Which Country Exports the Most Gold Ores in the World?

Uranium And Thorium Ores May 28, 2018
Author: Sergey Avramenko
Head of Global Markets Research Team

In 2016, approx. 1.8M tonnes of gold ore were exported worldwide; jumping by 8% against the previous year level. In general, gold ore exports continue to indicate a remarkable expansion. The most prominent rate of growth was recorded in 2012, when export increased by 84% from the previous year level. Global gold ore export peaked in 2016, and are expected to retain its growth in the near future.

In value terms, gold ore exports stood at $6.1B in 2016. Overall, gold ore exports continue to indicate a remarkable growth. Over the period under review, global gold ore exports reached its maximum level of $7.7B in 2012; however, from 2013 to 2016, it stood at a somewhat lower level.

Top Gold Ore Exporting Countries in the World

1. Australia (1,219.4 million USD)

2. Peru (522.7 million USD)

3. Mexico (518.2 million USD)

4. Russia (480.2 million USD)

5. Tanzania (321.9 million USD)

6. Bulgaria (295.1 million USD)

7. USA (191.5 million USD)

8. Turkey (126.7 million USD)

9. Kyrgyzstan (67.8 million USD)

10. Mongolia (38.3 million USD)

11. India (28.0 million USD)

12. Romania (3.6 million USD)

Gold Ore Exports By Country

In 2016, Australia (424K tonnes), distantly followed by Peru (191K tonnes), Russia (158K tonnes), Mexico (137K tonnes), Mongolia (95K tonnes), Bulgaria (89K tonnes), and Kyrgyzstan (88K tonnes) represented the major exporters of gold ore, together comprising 67% of total exports. Tanzania (55K tonnes), Turkey (53K tonnes), India (49K tonnes), Romania (47K tonnes), and the U.S. (41K tonnes) followed a long way behind this figure.

Exports from Australia increased at an average annual rate of +31.3% from 2007 to 2016. At the same time, Mongolia (+612.7%), Russia (+186.8%), the U.S. (+124.9%), India (+92.6%), Turkey (+63.0%), Mexico (+48.6%), Peru (+34.3%), Bulgaria (+31.1%), Kyrgyzstan (+30.9%), Romania (+21.6%), and Tanzania (+2.5%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest growing importer/exporter in the world, with a CAGR of +612.7% from 2007-2016. While the share of Romania (-2.2%), the U.S. (-2.3%), India (-2.8%), Turkey (-2.9%), Kyrgyzstan (-4.5%), Bulgaria (-4.6%), Mongolia (-5.4%), Mexico (-7.5%), Russia (-8.9%), Peru (-10.1%), and Australia (-21.9%) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($1.2B) remains the largest gold ore supplier in the world, making up 20% of global exports. The second position in the ranking was occupied by Peru ($523M), with the share of 9% of global exports. It was followed by Mexico, with the share of 8%.

In Australia, gold ore exports expanded at an average annual rate of +30.5% over the period from 2007-2016. In the other countries, the average annual rates were as follows: Peru (+20.7% per year) and Mexico (+47.2% per year).

Gold Ore Export Prices By Country

The average gold ore export price stood at $3,460 per tonne in 2016, remaining relatively unchanged against the previous year level. In general, gold ore export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2008, when export increased by 48% y-o-y. Over the period under review, average gold ore export price attained its maximum level of $12 per kg in 2011; however, from 2012 to 2016, it stood at a somewhat lower level.

Export prices varied noticeably by country of destination. the country with the highest export prices was Tanzania ($5,911 per tonne), while Romania ($77 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of gold ore export prices was attained by Bulgaria (+5.5% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global gold ore market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • gold ore market share
  • gold ore prices
  • gold ore industry
  • gold ore sales
  • gold ore import
  • gold ore export
  • gold ore market forecast
  • gold ore price forecast
  • key gold ore producers

All data provided in this article covers the following product: HS Code 2616 - Precious metal ores and concentrates.

Source: World: Gold Ores And Concentrates - Market Report. Analysis and Forecast to 2025