10 largest gold mining companies in Q3 2022

Ranking of the top 10 largest gold mining companies is based on their quarterly production figures reported in Q3 2022.

This rating excludes Russia’s biggest and one of the world’s largest gold miners, Polyus, which has decided to switch from quarterly to semiannual reporting of its operating results and consolidated financial statements.

1. Newmont. 1,487 koz. 

Newmont’s attributable gold production increased 3% to 1,487 thousand ounces from the prior year quarter primarily due to higher ore grade milled at Ahafo, Akyem and Boddington. In addition, the current quarter benefited from the 100% ownership of Yanacocha compared to the prior year.

2. Barrick. 988 koz. 

Barrick’s Q3 2022 gold production was 10% lower than Q3 2021 as a strong performance from Pueblo Viejo was offset by lower production at Veladero, Carlin and Turquoise Ridge.

3. Agnico Eagle. 817 koz. 

Agnico Eagle’s payable gold production was 816,795 ounces in Q3 2022, up 51% compared to Q3 2021 (541,663 ounces). The company said that its Q3 2022 gold production was higher y-o-y primarily due to the inclusion of the production from the Detour Lake, Fosterville and Macassa mines.

4. AngloGold Ashanti. 738 koz. 

The company’s gold production for the third quarter of 2022 rose 20% to 738,000 ounces compared to 613,000 ounces in the third quarter of last year, underpinned by higher grades across most assets.

5. Gold Fields. 597 koz.

Gold Fields had a stable September 2022 quarter, with attributable gold equivalent production for Q3 2022 of 597koz, down 1% year-over-year.

6. Kinross. 541 koz.

Kinross produced 541 koz of gold in Q3 2022 (attributable), a 12% increase compared with 483 koz in Q3 2021. The year-over-year increase was primarily attributable to higher production at Tasiast due to the temporary suspension of milling operations as a result of the mill fire in June 2021, at Paracatu due to an increase in grade and recovery, and at La Coipa due to the restart and mill ramp-up.

7. Newcrest. 527 koz.

Australian gold miner Newcrest, the largest gold producer listed on the Australian Securities Exchange, produced 527koz of gold in Q3 2022, up 33% compared to Q3 2021.

8. Zijin Mining. 435 koz.

China’s Zijin Mining increased its mine-produced gold output by 6% y-o-y to 435 koz in Q3 2022 following the successful production commencement of key projects, primarily the Upper Zone of the Čukaru Peki copper and gold mine in Serbia.

9. Polymetal. 427 koz.

Polymetal’s Q3 2022 gold production grew by 6% y-o-y to 427 koz driven by Nezhda contribution which offset output reductions at Mayskoye (timing of shipments) and Kyzyl (grade).

10. Northern Star. 367 koz.

Northern Star Resources produced 366,641 ounces of gold in Q3 2022, which is slightly lower than the prior year quarter (373,475 ounces). The company said that its Australian operations delivered in line with expectations, adding that commissioning of Thunderbox mill continues with nameplate capacity expected in 2H23.