x

Global Mining  

Five Top Producing Gold Mining Companies in the World

The world’s top five producing gold mining companies include: Barrick Gold, Goldcorp, AngloGold Ashanti, Newmont Mining Corporation and Kinross Gold Corporation. Barrick Gold Corporation
 


The world’s top five producing gold mining companies include: Barrick Gold, Goldcorp, AngloGold Ashanti, Newmont Mining Corporation and Kinross Gold Corporation.

Barrick Gold Corporation
Barrick Gold Corporation is well-known worldwide as being the largest pure gold mining company in the world. This gold industry giant has 26 operating gold mines, in addition to projects in the pipeline across Australia, North America, South America and Africa. According to a 2009 report issued by the Company, it established 139.8 million ounces of proven, probable gold reserves—which is the largest amount of un-hedged reserves in the entire industry. Barrick Gold has an aggressive goal of reaching 7.6 to 8.0 million ounces of gold in 2010, at a total cash cost of $425 to $455 per ounce. Barrick Gold Corporation is headquartered in Toronto, Ontario, Canada and the President and CEO is Aaron Regent. The Company’s vision is, “To be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.”

Goldcorp
Goldcorp is a leader in gold production, with operations located throughout North America, Central America and South America. According to a 2009 annual report issued by the Company, Goldcorp, “continues to be the growth leader among senior gold producers with a forecast production increase of 57 percent over the next five years.” The Company’s growth profile is unrivaled within the mining industry.

Chuck Jeannes, President and Chief Executive Officer said, “We experienced another record-breaking year in 2009, increasing gold production to 2.42 million ounces on the strength of organic growth at most of our mines. We also achieved record cash margins due not only to a higher average realized gold price of $978 per ounce, but also to total cash costs that declined to $295 per ounce for the year from $305 in 2008. Cash flow from operations before changes in working capital totaled nearly $1.2 billion in 2009 while adjusted net earnings were $588.2 million in 2009 compared to $397.0 million in 2008.”

Goldcorp saw rapid growth from a solid intermediate player in the gold mining industry, to one of the dominant senior gold producers in the world. Goldcorp aims at being a low cost gold producer around the globe, with minimal environmental impact.

AngloGold Ashanti
This Johannesburg, South Africa-based top producing gold mining company has a total of 21 operations across four continents and ten countries—including the U.S., Tanzania, South Africa, Namibia, Mali, Guinea, Ghana, Brazil, Australia and Argentina. The Company continues to support in-depth exploration activities as well in an attempt to identify new resource ounces of gold. In 2009, the company spent a total of $199.9 million for its exploration programs.
At the end of 2009, the amount of both proved and probable ore reserves totalled 71.4 million ounces. AngloGold Ashanti aims at becoming the leading global gold mining company, while respecting natural environments, valuing its people and their safety and minimizing costs and maximizing profits for shareholders.

Newmont Mining Corporation
This gold mining company has operations around the globe, within eight countries in five continents—including North America, South America, Australia, Asia and Africa. Newmont’s most significant assets or operations are found in: the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. Newmont Mining Corporation’s most recent acquisition was of the largest undeveloped Greenfield in North America, Hope Bay, with plans to expand exploration projects into Peru and Ghana. Newmont will also work on Australia’s largest producer at Boddington, Newmont. The Company also focuses its efforts on developing technological solutions for mining that improve the overall mining process.
Newmont Mining Corporation, headquartered in the U.S, is considered to be one of the largest gold producers in the world. The Company is also the first gold company to be a part of the S&P 500 Index and Fortune 500. Plus, in 2007, the Company became the first gold company to be selected as part of the Dow Jones Sustainability World Index.

At the end of 2009, Newmont had proven and probable gold reserves of 91.8 million equity ounces and an aggregate land position of roughly 39,000 square miles. According to Omar Jabara, Group Executive at Newmont, in 2010, “Equity gold production is expected to increase slightly to between 5.3 and 5.5 million ounces, primarily as a result of the continuing 12-month ramp-up to full production of Boddington, partially offset by lower production from Nevada and Yanacocha.”
Jabara says, “Next year, Newmont will celebrate 90 years of being in business. Our success over the decades has resulted from our commitment to innovation and adapting to changing circumstances. We have one of the best exploration teams in the industry who discovered some of the world’s most legendary gold and copper deposits including the Carlin Trend in Nevada, Yanacocha in Peru and Batu Hijau in Indonesia. In addition, our operations teams are among the most experienced and resourceful in the world.”

Kinross Gold Corporation
This major gold producer is based in Canada with eight operations in Brazil, Chile, Ecuador, Russia and the U.S. According to a letter to shareholders in the Company’s 2009 annual report, “Fuelled by new output from Kupol, Kettle River-Buckhorn, and Paracatu, we recorded our highest production ever – 2.24 million attributable gold equivalent ounces, a 22 percent increase over 2008. We generated record revenues of $2.4 billion, up 49 percent over 2008. Our adjusted operating cash flow rose by 48% percent to $937 million. Adjusted operating cash flow per share reached $1.36, substantially above the previous record of $1.01 per share in 2008. Margins increased by 22 percent to $530 per ounce.” Kinross has a gold reserve base of approximately 46 million ounces. The Company is committed to safety for its workers, as well as environmental awareness surrounding its operations.






 

Join Businessfriend today. Where social networking leads to productivity


Featured Articles + MORE Featured Articles >>