Top-10 Gold Producing Countries in 2025

(Mike Maharrey, Money Metals News Service) Where do we get our gold? Last year, mines globally produced 3,672 tonnes of gold, according to the World Gold Council. It was a new record, but only about 11 tonnes higher than the 2025 total.

Between 1970 and 2018, gold production generally increased year after year. There was a drop in production in 2008, but it was something of an anomaly, occurring at the onset of the 2008 financial crisis.

After slowing for several preceding years, gold mine output fell by 1 percent in 2019.

While modest, the increase in mine output over the last two years is encouraging. However, it’s too early to say we have returned to an era of increasing mine output, and some industry insiders believe the plateau in recent years signals that we’re close to peak gold.

Peak gold is the point when the amount of gold dug from the earth begins to shrink every year.

This is because the easier-to-access gold close to the Earth’s surface is quickly running out, leaving deeper veins of gold that are more difficult and expensive to mine. It’s hard to determine when we will hit peak gold due to technological developments that help find new deposits and make extracting gold less difficult.

But as long as gold is valuable, people will be digging it out of the ground.

So, where does all this gold come from?

Here are the top 10 gold producers in 2025

1. China – 384.3 tonnes: China accounted for roughly 10 percent of global gold production in 2025. Mine output increased modestly by about 4 tonnes. China has led the world in gold production for several years.
2. Russia – 345 tonnes: Russian gold production increased by about 4.5 percent year-on-year in 2025.  Russia has historically produced much of the gold consumed in Europe, but the Russian government is the biggest buyer of Russian gold. Sanctions in the wake of Russia’s invasion of Ukraine stopped the flow of Russian gold into Europe. The country has sought alternative markets, particularly in the BRICS bloc.
3. Australia – 293.2 tonnes: After falling by over 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.
4. Canada – 213.3 tonnes: In 2021, Canada leapfrogged the U.S. to become the fourth-largest gold producer globally. Last year, mine output increased by another 4.5 percent to hold on to that number-four spot. Gold ranks as the nation’s most valuable mined commodity.
5. Peru – 208.9 tonnes: Peru gold production surged by over 52 percent last year, moving it from number nine to number five on our list of top gold producers. The official sector reported around 109 tonnes. The World Gold Council revised its estimate much higher to capture production from artisanal and small-scale mining.
6. Ghana – 187.3 tonnes: Ghana’s gold output also increased significantly by 46.7 percent. That was enough to push it ahead of the U.S. into the number six spot. The country ranks as Africa’s largest gold producer. Notably, South Africa no longer ranks in the top 10 global gold producers. It now sits at number 11 after leading the world in gold output for many years.
7. United States – 157 tonnes: U.S. gold mine production dipped by 1 tonne. U.S. mine output has fallen consistently since 2017.
8. Uzbekistan – 125.4 tonnes: Uzbek gold production fell modestly by about 4 tonnes. Even so, it moved up to spots in the rankings. Much of the country’s gold is consumed domestically. The Uzbek central bank buys a substantial amount of domestic gold.
9. Mexico – 113.5 tonnes: Mexico charted a substantial 19 percent decline in gold mine output, and it dropped from number seven last year to ninth. The decline was due to large mines going offline or producing substantially less gold.
10. Indonesia – 104.2 tonnes: Indonesian gold production dipped 25.6 percent after a 27 percent increase in 2024. An accident at the Grasberg mine shut down operations there. In 2019, the country mined less than 100 tonnes of gold. Mining is one of the country’s most important economic sectors.

Mike Maharrey is a journalist and market analyst for Money Metals with over a decade of experience in precious metals. He holds a BS in accounting from the University of Kentucky and a BA in journalism from the University of South Florida.