Global Gold Mining Market Size study & Forecast, by Mining Method (Hardrock Mining, Placer Mining), by End User (Investment, Jewellery, Others), and Regional Analysis, 2022-2029

Global Gold Mining Market Size study & Forecast, by Mining Method (Hardrock Mining, Placer Mining), by End User (Investment, Jewellery, Others), and Regional Analysis, 2022-2029

Global Gold Mining Market is valued at approximately USD xx billion in 2021 and is anticipated to grow with a healthy growth rate of more than x% over the forecast period 2022-2029. Gold Mining is a process in which different mining methods are used for extracting gold from gold mines. The two methods for mining gold are Placer Mining and Hardrock Mining. The former was used by early miners. Hardcore mining is used for extracting gold from underground tunnels. The growth of Global Gold Mining is mainly driven by the increase in demand for gold and its usage in various industries. A lot of people are investing in Gold in the form of jewellery and people consider it a reliable and long-term source of investment. Gold reserves are also important for Central Bank to control demand moreover, Gold is also used in the Technological sector, it has been used as an industrial metal but mainly demand is driven by the electronics sector which accounts for a major part of the technology sector which is 80%. The other factor which is driving the growth of the gold mining market is the increasing demand for Gold Jewellery. The central bank of developing countries is increasing their holdings in the form of gold other than dollars and euros.



According to figures released by Statista, the global luxury jewellery market amounted to approx 28 billion euros in 2022. However, the cost of mining acts as the restraint factor for this industry which restricts the growth of the Gold Mining Market. The cost of Gold Mining is increasing on a YoY basis, for instance, the cost of mining went up by 5% in Quarter 1, 2021. The profitable growth opportunity for the firm can be the development of better mining tools. The advances in Gold Mining tools and equipment’s include processing plants, drills, explosives, trucks, and it can also include automated robots. It will cause less harm to the environment nearby and it will improve accuracy as well. As per the report by World Gold Council (WGC), the gold mining industry is contributing and following all 17 Sustainable Development Goals. For centuries, it has been observed that Gold has been considered the biggest way of investment and the demand for gold is always high regardless of any occurrence or pandemic. So, in future, the demand, and the price of gold will always fluctuate. Gold jewellery will always hold its value because of the high demand for gold it can be liquidated anytime. As per Capital.com, demand for gold has been rising by 10% on a YoY basis, the investment has reached around 1,107 tons.


The key regions considered for the Global Gold Mining Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the largest production in China. As per Statista, China’s gold mines produced around 330 metrics tons of gold in 2022. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as China and Australia being the largest producers of Gold in the world. The gold production in Australia is 320 metrics tons in 2022 which is the second largest producer, so out of 3100 metrics tons in 2022, 650 tons is produced by China and Australia which makes Asia Pacific the growing and dominating region in terms of gold production.

Major market player included in this report are:
Newmont Mining Corporation
Barrick Gold Corporation
Goldcorp Inc.
AngloGold Ashanti Ltd.
Newcrest Mining Ltd.
Kinross Gold Corporation
Polyus Gold International Ltd.
Gold Fields Ltd.
Agnico Eagle Mines Ltd.
Freeport-McMoRan Inc.

Recent Developments in the Market:
In January 2019, Newmont Mining Corporation announced that they would be buying their small rival company Goldcorp Inc and the deal was worth USD 10 billion, this merger is the second largest high-profile merger.
In Feb 2023, Newmont makes a proposal of USD 17 billion takeover bid for their Australian competitor or rival Newcrest Mining and this would mark the biggest U.S. merger to date in 2023.


Global Gold Mining Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Mining Method, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Mining Method:
Hardrock Mining
Placer Mining

By End User:
Investment
Jewellery
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

Newmont Mining Corporation
Barrick Gold Corporation
Goldcorp Inc.
AngloGold Ashanti Ltd.
Newcrest Mining Ltd.
Kinross Gold Corporation
Polyus Gold International Ltd.
Gold Fields Ltd.
Agnico Eagle Mines Ltd.
Freeport-McMoRan Inc.

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