“The Biggest Bullion Producers of 2021 – Who’s on Top?

Gold has been part of human civilization from as early as 2500 BC and is still one of the most important metals in the world today. It is one of the few metals which immediately capture attention and has a high value in almost all economically developed countries. The Gold production industry has a huge share of contributing to the global economic growth as gold, particularly as an investment asset is often seen as a safe haven for investors during periods of global financial market volatility. According to a recent survey, the 10 largest producers of gold are China, Australia, Russia, the United States, Canada, Peru, South Africa, Indonesia, Ghana, and Uzbekistan who account for more than five-sixths of the world’s total gold production. China produces the most gold in the world, with an annual production of over 420 tons of gold in 2021 and continues to be the leader in the production of gold for more than a decade and currently holds 20% of the world’s total gold supply. It was one of the first countries in the world to develop their gold industry, with gold accounts open as early as the 7-8th century. Australia comes in second with more than 300 tons of gold produced in 2021, 20% of which comes from just one producing area, Western Australia and is the second-largest gold-producing country in the world. This is followed by Russia whose gold production is close to 271 tons. The US and Canada occupy fourth and fifth place on the list which produces approximately 230 and 195 tons of gold in 2021. Peru and South Africa together account for a quarter of the world’s gold production in 2021, with Peru producing 268 tons and South Africa 257 tons. Indonesia was seventh on the list, Ghana eighth, and Uzbekistan ninth. Together they account for about 140 tons of gold production in 2021. Despite the few countries that dominate the gold production industry, the rest of them contribute in some shape or form to the gold production industry in the world. Some of these countries include Japan, India, Sudan, Mexico, Bolivia, Argentina, Tanzania, and Sri Lanka. The gold production industry is thus an industry that is of great importance to a large number of countries worldwide. In conclusion, gold continues to be a safe haven for investors and an important resource for countries in need of it. Thanks to the efforts of the 10 largest producers of gold, it is estimated that gold production will continue growing in the years ahead ensuring its strong presence in global markets and economy.