Top 10 Gold-Producing Countries in 2025
Key Takeaways
- •Global gold mine production hit a record 3,672 tonnes in 2025, about 11 tonnes higher than the previous year, according to the World Gold Council.
- •China remained the world's top producer at 384.3 tonnes, roughly 10 percent of global output, followed by Russia at 345 tonnes and Australia at 293.2 tonnes.
- •Peru's output surged more than 52 percent and Ghana's rose 46.7 percent, lifting them to fifth and sixth place, while South Africa dropped out of the top 10 to eleventh after leading world output for many years.
- •Mexico and Indonesia posted steep declines of 19 percent and 25.6 percent respectively, with Indonesia's fall driven by an accident that shut down the Grasberg mine.
- •Some industry observers believe the recent production plateau suggests the world may be approaching peak gold as near-surface deposits are depleted.
Top 10 Gold-Producing Countries in 2025
Mike Maharrey
Where does the world get its gold?
Last year, mines around the world produced 3,672 tonnes of gold, according to the World Gold Council. That set a new record, although it was only about 11 tonnes higher than the 2025 total.
From 1970 through 2018, global gold production generally rose year after year. There was a decline in 2008, but that was something of an outlier, occurring at the start of the 2008 financial crisis.
After slowing in several preceding years, gold mine output fell by 1 percent in 2019.
The modest increase in mine output over the past two years is encouraging. Even so, it is still too early to say the industry has returned to a long-term era of rising production, and some industry observers believe the recent plateau suggests the world may be nearing peak gold.
Peak gold is the point at which the amount of gold mined from the earth begins to decline each year.
That is largely because the easier-to-reach gold near the Earth’s surface is being depleted, leaving deeper deposits that are more difficult and expensive to mine. It is difficult to know when peak gold will arrive because technological advances can help locate new deposits and make extraction less difficult.
But as long as gold remains valuable, people will continue digging it out of the ground.
So, where does all this gold come from?
The top 10 gold producers in 2025
China – 384.3 tonnes: China accounted for roughly 10 percent of global gold production in 2025. Mine output rose modestly by about 4 tonnes. China has led the world in gold production for several years.
Russia – 345 tonnes: Russian gold production increased by about 4.5 percent year over year in 2025. Russia has historically produced much of the gold consumed in Europe, but the Russian government is the largest buyer of Russian gold. Sanctions imposed after Russia’s invasion of Ukraine stopped the flow of Russian gold into Europe. The country has since sought alternative markets, particularly in the BRICS bloc.
Australia – 293.2 tonnes: After falling by more than 4 percent in 2024, Australian gold production increased by 11 tonnes last year. Australia has the highest level of known gold reserves in the world, estimated at 12,000 tons.
Canada – 213.3 tonnes: In 2021, Canada overtook the U.S. to become the world’s fourth-largest gold producer. Last year, mine output rose by another 4.5 percent, allowing it to hold on to that fourth-place ranking. Gold is the country’s most valuable mined commodity.
Peru – 208.9 tonnes: Peru’s gold production surged by more than 52 percent last year, moving it from ninth to fifth on the list of top gold producers. The official sector reported around 109 tonnes. The World Gold Council revised its estimate much higher to account for production from artisanal and small-scale mining.
Ghana – 187.3 tonnes: Ghana’s gold output also increased sharply, rising 46.7 percent. That was enough to move it ahead of the U.S. into sixth place. The country is Africa’s largest gold producer. Notably, South Africa no longer ranks among the world’s top 10 gold producers. It now stands at number 11 after leading global gold output for many years.
United States – 157 tonnes: U.S. gold mine production fell by 1 tonne. U.S. mine output has declined steadily since 2017.
Uzbekistan – 125.4 tonnes: Uzbek gold production fell modestly by about 4 tonnes. Even so, it moved up in the rankings. Much of the country’s gold is consumed domestically, and the Uzbek central bank buys a substantial amount of domestic gold.
Mexico – 113.5 tonnes: Mexico recorded a steep 19 percent decline in gold mine output, dropping from seventh place last year to ninth. The decline was driven by large mines going offline or producing substantially less gold.
Indonesia – 104.2 tonnes: Indonesian gold production fell 25.6 percent after rising 27 percent in 2024. An accident at the Grasberg mine shut down operations there. In 2019, the country mined less than 100 tonnes of gold. Mining remains one of Indonesia’s most important economic sectors.
