|Title:||Global top gold mines by location with production in ounces for 2009 through 2011|
|Source:||E-MJ - Engineering & Mining Journal|
Start of full article - but without data
Top Gold Mines (2011)
Prod 'XXe Prod Location Type XXX oz XXX oz
Yanacocha Peru OP X,XXX X,XXX Grasberg Indonesia OP/UG X,XXX X,XXX Goldstrike USA OP NA X,XXX Cortez Hills USA OP NA X,XXX Veladero Argentina OP NA X,XXX Lagunas Norte Peru OP NA XXX Lihir PNG OP NA XXX Kalgoorlie (Super Pit) Australia OP NA XXX Tarkwa Ghana OP NA XXX Driefontein * South Africa UG NA XXX Kupol Russia OP/UG NA XXX Boddington Australia OP XXX XXX Red Lake Canada UG XXX XXX Telfer Australia OP/UG NA NA Kloof * South Africa UG NA XXX Kumtor Kyrgystan OP XXX XXX Ahafo Ghana OP XXX XXX Olimpiada Russia OP XXX XXX Porgera PNG OP NA XXX Cadia Valley Australia OP/UG NA NA Mponeng South South Africa UG NA XXX Paracatu Brazil OP NA XXX Penasquito Mexico OP XXX NA Ok Tedi PNG OP XXX XXX
'XX Prod 'XX XXX oz XXX oz
Yanacocha X,XXX XX,XXX Grasberg X,XXX NA Goldstrike X,XXX XX,XXX Cortez Hills XXX XX,XXX Veladero XXX XX,XXX Lagunas Norte X,XXX X,XXX Lihir XXX XX,XXX Kalgoorlie (Super Pit) XXX X,XXX Tarkwa XXX XX,XXX Driefontein * XXX XXXXX Kupol XXX X,XXX Boddington NA XX,XXX Red Lake XXX X,XXX Telfer XXX XX,XXX Kloof * XXX XX,XXX Kumtor XXX X,XXX Ahafo XXX X,XXX Olimpiada XXX NA Porgera XXX X,XXX Cadia Valley XXX XX,XXX Mponeng South XXX NA Paracatu XXX XX,XXX Penasquito NA XX,XXX Ok Tedi XXX X,XXX
Yanacocha Newmont (XX%), Buenaventura (XX%) Grasberg Freeport-McMoRan Copper & Gold Goldstrike Barrick Cortez Hills Barrick Veladero Barrick Lagunas Norte Barrick Lihir Newcrest Mining Kalgoorlie (Super Pit) Barrick (XX%), Newmont (XX%) Tarkwa Gold Fields Driefontein * Gold Fields Kupol Kinross Boddington Newmont Red Lake Goldcorp Telfer Newcrest Kloof * Gold Fields Kumtor Centerra Ahafo Newmont Olimpiada Polyus Gold Porgera Barrick (XX%) Cadia Valley Newcrest Mponeng South AngloGold Ashanti Paracatu Kinross Penasquito Goldcorp Ok Tedi SDPL, PING, Inmet
For the XXth consecutive year, gold prices have increased. Global economic uncertainty throughout much of 2011 allowed miners to continue to capitalize on a bull run that began in 2001. The mining industry's unhedged exposure to rising gold prices has improved profits margins and cash flow. Demand for bullion remains strong, especially from large emerging markets like China and India. Central banks and investors alike seek to diversify portfolios with gold.
The second half of 2011 was a wild ride for gold prices. A third quarter rally pushed the price of gold to a record of $X,XXX/oz. Gold ended 2011 at $X,XXX/oz, up XX% with an average price of $X,XXX/oz for the year. The possibility of an American default as politicians debated an increase in the U.S. debt ceiling, prompted a downgrade of U.S. debt, which took gold prices higher. Gold prices fell by XX% after politicians reached a temporary fix. Soon afterward, Eurozone financial concerns emerged, gold prices fell further as investors fled from commodities in a massive sell-off. Gold quickly regained its upward momentum as 2012 began.
Despite problems in both Indonesia and Peru, it's believed that gold miners will produce approximately X,XXX metric tons (mt) of gold in 2011, or about XXX million oz, an increase of around X% over 2010. In general, mines are going deeper and ore grades are declining, which means miners must extract and process more ore. On top of these conditions, discovery rates are also declining. Gold miners are investing heavily in exploration programs, and in increasing capacity and optimizing existing operations.
Barrick Discovers More Nevada Gold
Barrick Gold will produce X.X-X.X million oz of gold in 2011 at a total cash cost of $XXX-$XXX/oz. The leading gold producer recently announced two significant gold discoveries on the Cortez property in Nevada, Red Hill and Goldrush. The development of the Pueblo Viejo and Pascua-Lama mines continues to advance with first production anticipated in mid-2012 and mid-2013, respectively. The two mines should average X.X-X.X million oz/y in gold production during the first five years of operation at a relatively low cash cost.
"We remain on track to achieve our targets, one of which is to have one of the lowest cash cost profiles among the senior gold producers," said Aaron Regent, president and CEO, Barrick Gold. Recent drilling continues to expand the mineralization at the two discoveries in Nevada, Regent explained. Infill drilling between the two deposits is advancing the possibility that they will merge into a single deposit.