China currently produces about 14 percent of the world's gold. Australia is far ahead as the country with the largest gold mine reserves in the world, with 10,000 tons. Russia is second on the USGS list of countries with the largest gold mine reserves in the world, with 5,300 tons, almost half the amount of Australia. It has 24 million ounces of proven and probable reserves, with up to 39 million ounces of measured, indicated and inferred mineral resources.
In third place on the list of the largest gold mining reserves is South Africa, with 3,200 tons. South Africa is home to Gold Field's South Deep gold mine, which is the largest facility of its kind in the world with 32.8 million ounces of mineral reserves. The United States is the country with the fourth largest gold mining reserves in the world, with 3000 tons. Newmont's Carlin Trend mine in Nevada is the sixth largest gold plant in the world, while Barrick's Cortez mine, which is also located in Nevada, ranks tenth on the list.
Indonesia is ranked fifth in the list of countries with the largest gold mine reserves in the world, with 2,600 tons. Australia has the largest gold reserves in the world with 11,000 tons, followed by Russia with 6,800 tons. The single greatest source of gold in history has been South Africa's Witwatersrand basin. Witwatersrand accounts for approximately 30% of all the gold ever mined.
The Polyus Gold Olympiad gold mine in the Krasnoyarsk region of Eastern Siberia (Russia) is the third largest operational gold deposit in the world. Sudan is a new addition to the list of major gold-producing countries, and its gold mining industry is also affected by protests against environmental degradation and gold smuggling. An Assessment of U.S. Gold Resources Department of State revealed that the country has approximately 33,000 tons of gold in identified and undiscovered resources.
While gold prices reached an all-time high in August, this does not automatically translate into an increase in gold mining activity. In terms of companies, Nevada Gold Mines, which is majority-owned by Barrick Gold, is the largest gold mining complex in the world and produces around 3.5 million ounces a year.