The World’s Top 5 Most Lucrative Gold Mines

Underground gold mine tunnel with rails
by: Ben Tseytlin - on Gold & Bullion

Gold has been used in jewelry, coins and bars for centuries, and while most people know it comes out of the Earth, few know exactly where. Below is a list of the world’s top 5 most profitable gold mines, with fascinating insights into their history and development.

The Carlin Trend (United States)

It took many years for miners to discover this field, which is one of the most lucrative on Earth and which in the past was referred to as “invisible gold.” The reason for this is because while the majority of gold deposits are found via veins which are detected visually, the Carlin Trend of Nevada is different. Situated in the northeastern part of the state, it consists of hot springs which hold gold that was deposited and dissolved within sediment, becoming particles  so fine that they are very difficult to detect visually or even using a microscope. However, a geologist named John Livermore finally discovered the deposit in 1961.

The Yanacocha Of Peru

The Andes Mountains hosts this gold mine, which is situated at an elevation exceeding 13,000 feet. It is an extensive complex which encompasses approximately sixty square miles, and has the designation of being the biggest gold field in South America. Managed through Newmont Mining, it is their most profitable mine, and since investing $2 billion into its production they’ve gotten a return which exceeds $7 billion so far.

The Hishikari Mine Of Japan

When Marco Polo arrived to the Japanese archipelago centuries ago, he referred to the islands as being rich in gold, and the Hishikari Mine is testament to this. Traditionally, much of the gold found here was produced from no more than two mines, and by the 1980s the Japanese had little gold production which was commercialized. This all changed by 1981 with the discovery of premium grade gold deposits by Sumitomo Metal Mining, in what would become known as the Hishikari field. The concentration of gold within this mine is said to be between six and ten times greater than what is seen from most gold fields.

The Super Pit of Australia

Situated at Kalgoorlie of West Australia, the Super Pit is the nation’s biggest open mine. It encompasses about 3 square miles and is so wide it can be viewed from planetary orbit. Excavation was initiated once multiple mines underground were purchased by the Kalgoorlie Consolidated Gold Mines, and currently, their project has discovered classical mining tunnels with equipment that has long been abandoned, which date back to the nineteenth century. The mine has been in operation since that time, and is expected to be retired by 2020, after which it will be filled with ground water.

Witwatersrand Basin of South Africa

Of all the gold fields listed so far, this one is considered the most lucrative. It is said that upwards of forty percent of the world’s mined gold comes from here, and by 1970 the nation of South Africa accounted for almost 80 percent of global production. Gold is mined here by opening deep tunnels underground which reach the deposits, which are accompanied by sophisticated ventilation systems.