The World’s Most Influential Gold Mining Companies of 2024

Exploring the Giants of Gold: A Look at the Top Gold Mining Companies in 2024

Editorial Team (ET)May 9, 2025

Gold has re-emerged as one of the top asset classes of 2024, having risen by 12% year to date and shattered multiple records along the way. It is now well on track for its best year since 2020. The yellow metal has largely benefited from the heightened uncertainty in the global economy, namely recession fears and geopolitical risks, which in turn are driving up demand.

In light of its rising significance as a safe haven asset, gold’s supply must also keep pace with the demand. The world’s production of gold has steadily gone up over the last four years, according to the World Gold Council. Most of the gold production comes from a small number of companies that have been in the mining business for decades.

Top 10 Gold Mining Companies

Newmont (TSE: NGT)

Despite an 8% decline in output from 2022, Newmont remains the top gold producer with 5.5 million oz. across its global operations, which span four continents. The Denver, Colorado-based company cemented its position as the world’s biggest gold miner last year with its $17 billion acquisition of Newcrest Mining. The deal gave Newmont a much bigger presence in Australia and Canada, adding two major operations in each country. Recently, Newmont was named by TIME magazine as the best-performing mining company in terms of decarbonization.

Barrick Gold (TSE: ABX)

Barrick’s 2023 production of 4.05 million oz. also fell below the previous year’s (-2.1%) and was slightly short of its forecast as well as analyst expectations. In response to rival Newmont’s big move, Barrick CEO has repeatedly shot down the idea of making any big acquisitions, and instead, the company will focus on organic growth, with expansions being lined up at its operations in the Dominican Republic and Nevada. The Toronto-based miner is also reportedly close to selling a stake in its other growth project, the Reko Diq in Pakistan, to Saudi Arabia.

Agnico Eagle (TSE: AEM)

In contrast to the ‘Big 2’, Agnico’s production grew nearly 10% thanks to its purchase of the remaining stake in the Canadian Malartic, Canada’s biggest open-pit mine, and a full year of production from mines acquired from Kirkland Lake Gold in 2022. In addition to consolidating its production in Canada, Agnico has also been investing in growth projects in Finland, where it operates Europe’s largest primary gold producer at Kittila.

Navoi (NMMC)

Navoi Mining and Metallurgical Company (NMMC) is the biggest industrial enterprise in Uzbekistan with a rich history of gold production. While NMMC reports annual production on currency volume, according to information released by S&P Global, its 2023 production totaled 2.9 million oz., enough to maintain Top 4 producer status.

Polyus (PLZL)

Polyus saw its production rise 14% in 2023 to 2.9 million oz., consisting of 2.48 million oz. in refined gold and the rest in flotation concentrate. Like many other Russian enterprises, the Moscow-based gold company was hit with Western sanctions last year, forcing it to wind down its mining operations.

AngloGold Ashanti (NYSE: AU)

AngloGold Ashanti’s production fell 3% year-on-year in 2023 due to fewer tonnes of ore processed and lower ore grades. Equipment failure at one of its Ghanaian operations also contributed to the output decline. In 2024, the Johannesburg-based gold miner is maintaining an output target of 2.79 million oz. despite flooding in Australia.

Gold Fields (JSE: GFI)

Gold Fields once again trailed its South African rival with production of 2.3 million oz. in 2023, down 4% from the year before. Towards the end of the year, the company sold a 45% stake in the Asanko gold mine in Ghana to joint venture partner Galiano Gold. However, the loss of production there would be offset by its new $1 billion Salares Norte mine in Chile, which poured its first gold in April after years of delays. Gold Fields and AngloGold Ashanti were previously rumored to be in merger talks, but that has now been ruled out after the companies entered a joint venture in Ghana last March.

Zijin Mining (SHA: 601899)

Zijin Mining is coming off a 20% year-on-year gold production growth, positioning itself as the No.1 listed gold mining company in China and among the top 8 globally. It has been reported that the group is still “actively looking” to bolster its production profile through acquisitions as it had done in the past, but valuations and geopolitics have slowed down that strategy in recent years.

Kinross Gold (TSE: K)

In 2023, Kinross produced 2.15 million oz. in gold equivalent (including silver converted into gold), nearly 10% higher than in 2022. The Canadian miner is about to add a new source of production, with the Manh Choh project in Alaska targeted for first pour this month. Last June, it was revealed by Bloomberg that Kinross had been the target of a takeover by Endeavour Mining, which predominantly mines gold in West Africa, but the deal to consolidate the mid-sized miners did not materialize.

Freeport McMoran (NYSE: FCX)

US-based Freeport McMoran also enjoyed a near 10% increase in gold production in 2023. The company, which is mostly known for its copper, currently operates the Grasberg mine in Indonesia, one of the largest gold operations in the world.

Notable Mention

Solidcore (Polymetal)

Solidcore Resources, formerly known as Polymetal International, kept its gold-equivalent output steady last year with 1.71 million oz. Since coming under US sanctions, the group has been forced to sell a majority of its Russian assets, representing about 70% of its production. Under its new look, Solidcore is now expected to enter the Middle East market and ramp up investments in its existing operations in Kazakhstan. The aim is to produce 1 million oz. of gold equivalent by 2029.

Junior Stocks Pick

Great Pacific Gold Corp (TSXV: GPAC)

Great Pacific Gold Corp is a rising junior miner with promising gold and copper projects in Papua New Guinea and Australia. The company has reported significant high-grade gold assays from its Kesar Creek and Lauriston Gold projects, reflecting its strong exploration capabilities. With solid financial backing and strategic positioning in key mining regions, GPAC offers substantial growth potential for investors looking to tap into the lucrative gold market.

Conclusion

The top gold mining companies continue to drive global production, ensuring the supply keeps pace with the ever-growing demand. These companies have not only established themselves through extensive operations and strategic acquisitions but also by adapting to geopolitical and environmental challenges. As gold remains a vital asset for investors worldwide, the future of gold mining will likely see further innovations in sustainable practices, technological advancements, and strategic partnerships.

Disclaimer

This report should not be viewed as investment advice or as an offer to buy or sell any securities or as an invitation or solicitation of an offer to buy or sell any securities. Neither the author of this report, its publisher, nor any other person associated with the publication of this report, are registered brokers, investment dealers, investment advisers, or financial advisers. The information in this report has not been tailored to the particular needs or circumstances of readers and should not be relied upon as investment advice or recommendations to purchase or sell any of the securities presented in this report. Readers seeking investment advice should contact qualified and registered brokers, investment dealers, investment advisers, or financial advisers prior to making any decision to buy or sell any of the securities referred to in this report. The information in this report should not be construed as investment, legal, or tax advice. No recommendation is made as to whether an investment in the presented securities is suitable for any reader in light of the reader’s particular circumstances.

Readers are cautioned that the publisher of this report covers exclusively securities that carry a high degree of volatility. Investing in such securities is highly speculative and carries a high degree of risk. Investors in such securities could lose all or a substantial portion of their investment. Only those investors who can afford to lose all or a substantial portion of their investment should consider investing in the securities referred to in this report.

This report may include information obtained from publicly available sources, including third-party reports or analysis. Neither the author nor publisher of this report, nor www.juniorstocks.com or its owners, have undertaken any independent investigation into the factual information used in this report, and the information in this report is provided without any warranty of any kind. No representations or warranties are provided regarding the accuracy or completeness of the information provided in this report. Statements of opinion or belief are those of the authors and/or publisher of this report. These statements of opinion or belief are expressions of the author’s and/or publisher’s judgment, and there is no guarantee that those judgments will turn out to be correct. No inference should be drawn that the author and/or publisher have any special or greater knowledge about the presented companies or their securities, or any particular expertise in the industries or markets in which the company operates. Readers should conduct their own due diligence and seek professional advice prior to investing in any securities presented on Juniorstocks.com.

Certain statements in this report constitute “forward-looking” statements. Forward-looking statements often, but not always, are identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “targeting,” and “intend” and statements that an event or result “may,” “will,” “should,” “could,” or “might” occur or be achieved and other similar expressions. Forward-looking statements express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance; they are not statements of historical facts and should not be viewed as any guarantee of any future result. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. The author and/or publisher of this report disclaims any obligation to update the forward-looking statements in this report, whether as a result of new information, future events, or results or otherwise. There is no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The information provided in this report is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to applicable law or regulation, or would subject the author or publisher of this report to any registration requirement in such jurisdiction or country.

Information about the editor of this publication:
Juniorstocks.com is a service provided by Piccadilly Capital Group, Office 66, 101 Clapham High Street, London, SW4 7TB, UK. Piccadilly Capital Group is not the publisher of this report and was not paid for the publication of this report. Piccadilly Capital Group seeks to generate web traffic and a growing number of followers through the publication of articles or reports. Directors, officers, and other insiders of the publisher own an interest in Piccadilly Capital Group. Piccadilly Capital Group does not endorse or recommend the business, products, services, or securities of any company mentioned on www.juniorstocks.com. Piccadilly Capital Group will not share your information with any outside third parties. Due to the new data protection basic regulation, we ask you to read our data protection declaration carefully.

Note on copyright:
The contents published on this website and on connected media (e.g., e-mail, X, Facebook) are subject to applicable copyright and ancillary copyright laws. Any use not permitted by applicable copyright and ancillary copyright laws requires the prior written consent of the provider or the respective rights holder. In particular, this applies to the duplication, editing, translation, storage, processing, or reproduction of content in databases or other electronic media and systems. Contents and rights of third parties are marked as such. Unauthorized reproduction or transmission of individual contents or complete pages is not permitted and is punishable by law. Only the production of copies and downloads for personal, private, and non-commercial use is permitted. Links to the provider's website are always welcome and do not require the consent of the provider of the website. Photos and images on the website may not be shared unless the publisher itself has acquired the initial rights from authorized sources. The presentation of this website in external frames is only allowed with written permission. If you notice any violations, please inform us. Please note: The content of our articles, emails, or other publications or social networks such as X, LinkedIn or Facebook is exclusively intended for the designated addressee(s). If you are not the addressee of these articles, emails, or other publications in the market letter or social networks such as Twitter or Facebook or his or her legal representative, please note that any form of publication, reproduction, or distribution of the content of these articles, emails, or other publications in the market letter or social networks such as X, LinkedIn or Facebook is prohibited. Falsifications of the original content of this message during data transmission cannot be excluded in principle.