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Details of Producing Countries and Their Mining Companies

Details of Producing Countries and Their Mining Companies

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Published by Bhupal Bhamare

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Published by: Bhupal Bhamare on Aug 03, 2010
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Gold mining in China has recently made that country the world's largest gold producer. For the year 2007, gold output rose 12% from 2006 to 276 tonnes (or 9.7million ounces) to become the world's largest for the first time -- overtaking SouthAfrica, which produced 272 tonnes. South Africa had until then been the largest for 101 years straight since 1905. The major reasons for this change in position had been due to South African production falling by 50% in the past decade as production costs there have risen, more stringent safety regulations have beenimplemented, and existing mines have become depleted.On the other hand, gold output in China has risen by 70% for the past decade. Inrecent years, China's gold mining industry has received increased foreign anddomestic investment, and project numbers have increased as more discoveries have been found. China produced nearly 300 tonnes of gold in 2008. It is also the onlycountry in the top three where production rose in 2008.The country's oldest and largest gold producer is the
China National Gold GroupCorporation (CNGGC)
, which accounts for 20% of total gold production inChina and controls more than 30% of domestic reserves. CNGGC also controlsZhongji Gold, the first publicly listed gold mining company in China
Production and reserves
China's gold reserves are relatively small (about 7% of the world total). Productionhas usually been concentrated in the eastern provinces of Shandong, Henan, Fujianand Liaoning. Recently, western provinces such as Guizhou and Yunnan have seena sharp increase, but from a relatively small base.Zhaoyuan, a Shandong provincial city of a population of 580,000, has more than60 gold mines operating in the hills around the city. They annuall produce about15% of China's total gold - the most in the country.
Mining in Australia is a significant primary industry and contributor to theAustralian economy.A number of large multinational mining companies including
BHP Billiton,Newcrest, Rio Tinto, Alcoa, Chalco, Shenhua (a Chinese mining company), Alcanand Xstrata operate in Australia
. There are also a lot of small mining and mineralexploration companies listed on the
Australian Stock Exchange
(ASX). Overall, theresources sector represents almost 20% of the ASX market by capitalisation, andalmost one third of the companieslisted.the mining sector employs only a smallproportion of the workforce - roughly 129,000 Australians, representing onlyabout 1.3% of the total labour force
Barrick Gold, Goldcorp, AngloGold Ashanti and Newmont Mining Corporationare the world's four largest gold mining companies.
Almost 50% of the world's gold reserves are found in South Africa.Among thenation's gold mines are two of the deepest mines in the world. The East RandMine, in Boksburg, extends to a depth of 3,585 metres (11,762 ft). A 4-metre(13 ft) shallower mine is located at TauTona in Carletonville, though plans are inplace to begin work on an extension to the TauTona mine, bringing the totaldepth to over 3,900 metres (12,800 ft) and breaking the current record by127 feet (39 m).
At these depths the temperature of the rocks is 140 °F (60 °C)
produced 1.46 million ounces of gold, making it one of the worldslargest gold mining companies. The groups operations are located primarily onthe Witwatersrand Basin in South Africa, with a highly prospective explorationportfolio and open-pit mining operation in Papua New Guinea
Most gold produced today in the US comes from large open-pit heap leach minesin the state of Nevada. The US is a net exporter of gold.
Barrick gold and Newmont Minning Corporation are the two famouscompanies of US.
The gold mining company
is facing the task of developing exploration inthe Krasnoyarsk Territory and other regions and has enough potential to do that.The company will increase output in this region by 10-15 tones of gold due toprospecting works. Several licensed districts for exploration are at the disposal of Norilsk Nickel in Taimyr.the allocation of gold mining in the Russian territories, the most productive regionis Magadan (33.5 tones in 2002), Krasnoyarsk Territory (29.3 tones), Yakutia (17.5tones), Irkutsk Territory (16.3 tones), Khabarovsk Territory (15.3 tones) and Amurregion (12.7 tones).
The Yanacocha mine in the Peruvian Andes is the largest and most profitable goldmine in Latin America. It was created with the support of the InternationalFinance Corporation (IFC) in 1993. The IFC subsequently backed severalexpansions of the Yanacocha mine and owns 5% of the shares.The mine produced 1.66 million ounces of gold in 1999 at a cost of $103 perounce, making it one of the largest and lowest-cost gold mines on the planet.Yanacochais a goldmine in northern Peru, considered to be the second largestgold mine in the world, producing over US$7 billion worth of gold to date.

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