Gold is a precious medal admired for its beauty. Little has changed since the beginning of civilized culture. The acquisition of gold brings wealth to anyone in possession of the precious metal.
Although many companies mine gold, only a handful has gained ownership of rich gold mines to become the largest companies in the world. Goldcorp, AngloGold Ashanti and Newmont Mining Corporation at the top of the list follow Barrick Gold.
Barrick Gold is unquestionably the largest gold mining company in the world. It is Canadian owned located in Toronto. They have 27 large mines in North and South America, Australia and Africa. They become number one in 2006 after acquiring a smaller company, Placer Dome.
The current estimated reserve is an impressive 138.5 million ounces yet to be mined with new reserve developments in the United States, Argentina, Russia and a list of others. The company is not without critics, however. Conservation groups have charged environmental damage has been caused by a mining method called cyanodation.
Goldcorp is a second Canadian gold mining company located in Vancouver. This company concentrates mining efforts primarily in six American countries including Canada. Mexico and United States. Although gold mining success is far less than Barrick Gold, profits are claimed to be higher due to a low-cost method of mining.
South Africa’s AngloGold Ashanti become one the largest mining companies in 2004 when AngloGold and Ashanti Goldfields Corporation merged. They have mining operations in countries covering four continents including the United States, Australia and areas of South America and South Africa. Annual gold mining has averaged 5 million ounces during the past three years.
Newmont Mining is an Australian based company considered one of the top four. Based in Denver, the company has mining operations located in Australia, New Zealand, Canada, Mexico and Nevada with seventy percent of the mining taking place in Nevada. The company mines approximately 5.9 million ounces each year with an estimated 94 million ounce reserve. Gold is not the only mineral mined, however. The company includes copper and silver in mining operations.
The top four gold mining companies are successful as a combination of discovery and mining operations. Due to vast reserves yet to be mined, it is possible these companies will continue success for a number of years.