Investing in Gold and Achieving Our Glory
 
Picture
The process of gold production with its numerous stages has undergone rapid scientific and technological development since the Klondike Gold Rush in the turn of the nineteenth century. This article offers a brief review of the ten biggest and most influential precious metal processing companies in the world.

With as much as twenty-seven operational mines scattered across the globe, the Barrick Gold Corporation, founded in 1983, is arguably the largest producer of gold in the world. Headquartered in Toronto, Canada, the company's chares are traded on the stock exchanges in New York and Toronto under the ticker ABX. Amid heavy gunning from environmentalists over the possible spills of poisonous chemicals in the area of some mines, the executive officials of Barrick managed to top the gold producers' rankings with a total output of 5,525 million ounces at the end of the third quarter of 2009.


As good as the Barrick team is, their major competitors from Newmount Mining Corporation are literary in their steps, as they announced a total produce of 4.7 million ounces of gold at the end of Q3 2009. Newmount Mining Corporation expects a five or ten percent increase in the output in 2010, mainly as a result of increasing yield from their gold mines in Australia and Indonesia. The company was founded in 1916 and its shares are traded on the NYSE under the ticker NEM.

The number three gold producer on the list is AngloGold Ashanti Ltd which announced a total produce of slightly over three million ounces of gold (for the first nine months of 2009), expecting to reach 4.5 million ounces this year. The company came into being after the merger of AngloGold and the Ashanti Goldfields Corporation in 2004. Its shares are currently traded on the stock exchanges in Johannesburg, London, and New York. The corporation is headquartered in South Africa.

The fourth largest gold producer in the world is US-based Freeport-McMoran Copper & Gold Inc (NYSE: FCX), with a total output of slightly over two million ounces of gold end-Q3 2009. Founded in 1912, the company suffered significant losses in 2008, owing, to a great extent, to the stagnant precious metals markets around the world. Freeport-McMoran Copper & Gold Inc operates gold mines in North and South America and Indonesia.

Canada's GoldCorp Inc is the fifth largest gold producer in the world. At the end of September 2009, the miner announced a total output of 1.8 million ounces of gold from their sixteen mines across the globe. The company's shares are traded on the stock exchanges in Toronto and New York.

With a total output of 1.6 million ounces of gold for the first nine months of 2009, GoldCorp's country fellowmen from Kinross Gold Corporation have earned the sixth place on the list of world's top gold producers.

Number seven is a gold producer from South Africa which, according to some market analysts, is actually the fifth largest gold producer in the world. The miner from South Africa's Harmony Gold Mining announced 1.45 million ounces of gold at the end of Q3 2009.

The last three of the top ten gold producers in the world are Australia's Newcrest Mining Ltd, South Africa's Gold Fields Inc, and Lihir Gold Ltd which is headquartered in Papua New Guinea.

 





Leave a Reply.