2014 Output: 461.8 tonnes
Not only is China the biggest producer of gold, but a significant margin, it is also the biggest consumer. In fact, consumption reached an incredible 886 tonnes in 2014, which amazing still is actually down 24.7% from 2013.
Australia is holding on to the World No. 2 spot as with previous years. However, with a falling Australian dollar combined with a fall in the price of gold, miners were reported to have mined their richest deposits to maintain a profit, as well as concentrating on cutting costs.
Super Pit Gold Mine Kalgoolie. Image Credit: Wikipedia.org
2014 Output: 262.2 tonnes
Russia has a stellar year of growth, which saw gold production rise as much as 27% in the first half of the year, one source reported.
2014 Output: 205.0 tonnes
Gold production dropped for the US in 2014, which meant Russia leapfrogged to the World No.3 spot. The US has more than 45 lode mines, with their largest mines in Alaska.
2014 Output: 172.6 tonnes
There was a decrease in Peru’s gold production for 2014, due to a reported crack down on illegal operations and lower-than-expected output from some of their aging mines.