Global Gold Production by Country: 2025 Tonnes, Canada's Rank and the 2026 Trend

How big is global gold production, and who mines it? The U.S. Geological Survey estimates that the world mined 3,300 tonnes of gold in 2025, up from 3,280 tonnes in 2024. China, Russia, Australia, Canada and the United States were the top five, together accounting for 41% of output (USGS Mineral Commodity Summaries 2026, gold). The World Gold Council (WGC), using Metals Focus data, puts 2025 higher, at a record 3,815 tonnes (WGC Gold Demand Trends Q1 2026, supply). Below are the country figures, why the two totals differ, and what has changed in 2026.

Gold production by country, 2025

USGS figures in metric tonnes; 2025 values and several 2024 values are estimates (USGS):

Two points stand out. First, production is spread wide: "other countries" outside the USGS list still mine about 1,000 tonnes, close to a third of the total. Second, reserves and output don't line up. Australia and Russia hold the largest reserves (13,000 and 12,000 tonnes), while China, the largest producer, reports 3,200 tonnes. World reserves are about 20 years of output at the 2025 rate (66,000 ÷ 3,300), though reserve estimates move with price and exploration.

Why the USGS and WGC totals differ

The two series use different methods and data, and they are about 500 tonnes apart. WGC notes that Metals Focus keeps revising its numbers upward as it gathers better data on artisanal and small-scale mining (ASGM). Those revisions added 621 tonnes of cumulative output since 2015 in its Q1 2026 update (WGC Q1 2026), and a further revision added 117 tonnes since 2013 in Q2 (WGC Q2 2026). Its first estimate of 2025 output, in the full-year 2025 report, was 3,672 tonnes (WGC full-year 2025). The lesson for readers is to compare countries within one data series and not mix sources.

Canada: fourth and gaining

Canada ranks fourth on the USGS table at an estimated 200 tonnes, with 3,200 tonnes of reserves (USGS). WGC data show Canadian output up 10 tonnes (5%) in 2025, one of the four largest gains worldwide. Q1 2026 output then rose 15% year on year as new mines ramped up, including Equinox's Valentine Lake, B2Gold's Back River and Artemis Gold's Blackwater (WGC Q1 2026). In Q2 2026, Canada posted the largest increase WGC listed, +29%, which it credited to ramp-ups including Agnico Eagle's Detour Lake (WGC Q2 2026).

The United States, fifth, moved the other way. USGS estimates 160 tonnes for 2025, with Nevada at about 64% and Alaska at about 22% of the U.S. total (USGS). WGC reports Q2 2026 U.S. output down 12%, citing mine sequencing at Barrick's Carlin and lower head grades at Kinross operations (WGC Q2 2026).

Who else moved

In 2025, the largest increases in WGC's data were Ghana (+34 t, +22%), Russia (+15 t), Chile (+12 t, +33%) and Canada. The largest declines were Indonesia (−36 t, −26%) and Mali (−17 t, −17%) (WGC Q1 2026). In Q2 2026, Mexico fell 23% as Newmont's Peñasquito moved to its Phase 8 operations; WGC says higher-grade mining there isn't expected until 2028. China fell 8% on safety stoppages in Shandong province (WGC Q2 2026).

2026 so far: record volume, record costs

First-half 2026 mine output reached a record 1,867 tonnes, 3% above H1 2025 (data as of July 30, 2026). Industry all-in sustaining costs hit a record US$1,785/oz in Q1 2026, up 16% year on year, driven by royalties and corporate G&A (WGC Q2 2026). USGS estimates the 2025 average gold price at about $3,300 per troy ounce, a 38% rise and a record annual average (USGS).

What it means for investors

• Supply responds slowly. Despite record prices, world output grew only a few per cent in 2025 and H1 2026, so higher prices have not yet brought much more metal to market.
• Costs are rising with price. WGC links part of the AISC increase to royalties tied to the gold price (WGC Q1 2026). That limits how much of a higher price producers keep.
• Jurisdiction matters. Canada combines a top-four ranking with new mines ramping up. Investors should still check each company's mine-level guidance rather than the country trend.

For mine- and company-level detail, see our top 20 gold mines and top gold producers articles, the gold hub and our company directory.

How we checked this: AI-drafted from the sources linked above and checked against them by our AI editor.