acacia, a barrick subsidiary, also operates gold mines in africa. although its focus is on gold, the company also mines copper, producing over 415 million pounds last year. the company expects to produce between 5.3 and 5.6 million ounces of gold in 2017. 2. newmont mining corp nem 2016 revenue: $7.11 billion; 2016 gold production: 4.9
mine production. mines and gold mining operations have become increasingly geographically diverse, far removed from the concentrated supply of four decades or so ago when the vast majority of the worlds gold came from south africa. china was the largest gold producer in the world in 2016, accounting for around 14% of total annual production.
gold fields production down due to unbundling of certain assets in south africa into a newly created company called sibanye gold. 3 of the companies took on major writedowns on their assets in the last quarter of 2011 and that affected their annual profits newmont $1.6b, kinross $2.94b, agnico-eagle mines $644.9m .
finally, randgold resources made it onto this list of top gold mining companies with gold production of 55.1 tonnes, an increase from its 2017 output of 52.3 tonnes.
operating from the cape to cairo, and from ghana to sudan, these mining companies in africa include the most prestigious multinational conglomerates in the world, such as african copper plc, oando energy resources, tjate platinum corporation, kumba iron ore, aquarius platinum and cardinal mining services.
west africa-focused perseus mining tsx:pru,asx:pru holds one gold property in ghana: its flagship asset, the edikan gold mine. it has a measured and indicated gold resource of 5 million ounces. edikan first produced gold in 2011, and by january 2012, the company was in commercial production.
barrick gold corporation is the largest gold mining company in the world with annual production of approximately 5.5 million ounces of gold. barricks five core mines are cortez and goldstrike in nevada, pueblo viejo in the dominican republic, lagunas norte in peru and veladero in argentina.
only three of the world's largest gold producers managed to lift output in 2016 barrick loses 600,000 ounces of annual production but slashes costs.
the british-australian multinational mining company is headquartered in london, uk and boasts a gross revenue of over us$50 billion per annum. over 60,000 employees in as much as 40 different countries dominate the production of diamonds, uranium, aluminium, iron core, coal and copper.
the total gold mine production in africa was estimated to be 660,000 kilograms in 2017 and is expected to increase to 730,000 kilograms by 2021.