The 10 Largest Gold Mines in the World, Numbers 3 and 6 are Owned by Indonesia
Jakarta - Gold mining is an important economic sector that produces jewellery and bullion for investment purposes. This is particularly significant as gold investment continues to grow in popularity.
According to the Indonesia Mining Institute, Indonesia is one of the world’s largest holders of gold reserves, ranking fourth globally. Indonesia contributes 6% of global reserves, with ore volume totalling approximately 3,600 tonnes.
Notably, two of the world’s largest gold mines are located in Indonesia, according to Mining.com data. These include the Grasberg gold mine with production capacity of 1.9 million ounces, which ranks third globally.
The mine is located in Mimika, Central Papua and is operated by PT Freeport Indonesia (PTFI). The Indonesian Government currently holds a majority stake of 51% in PTFI, with the remainder owned by Freeport McMoRan (FCX).
The Special Mining Business Licence for this mine, which previously applied until 2041, will be extended until reserves are depleted. As a condition of this agreement, FCX will divest 12% of PTFI shares, increasing government ownership to 63%.
The Batu Hijau mine ranks sixth among the world’s largest gold mines, with production capacity of 1.0 million ounces. This mine is operated by PT Amman Mineral Internasional Tbk. (AMMN) and is located in Sekongkang, West Sumbawa, West Nusa Tenggara.
The top 10 global gold mines are as follows:
Nevada Gold Mines - United States
Muruntau - Uzbekistan
Grasberg - Indonesia
Olimpiada - Russia
Almalyk Complex - Uzbekistan
Batu Hijau - Indonesia
Kazzinc Consolidated - Kazakhstan
Loulo-Gounkoto - Mali
Kibali - Democratic Republic of Congo
Ahafo - (location not specified)