Gold Mining Industry Overview - An Important Economic Contributor

The gold mining industry is an important economic contributor by numerous countries around the world. Gold has been mined on every continent with the exception of Antarctica, but the top producing countries are South Africa, the United States and Australia. Other countries with high production include China, Russia, Peru and Canada. New mining efforts are taking place in places such as Ghana, Chile, Africa, Latin America and Asia

The gold mining industry has a long and rich history that dates back to the first millennium. Mining gold can be dangerous, costly and time consuming. It is estimated that more than 4.97 billion ounces has been extracted since the beginning of civilization. The first known mine was in the Kolar Gold Fields as early as the 2nd and 3rd century. Gold was mined in this area by the royalty of South India in the 11the century, by the Vijayanagar Empire from 1336 to 1560 and by the British. Today, there are hundreds of gold mines located throughout the world and thousands of people who earn a living working in the mines. The largest are most productive mines are Barrick Gold, Goldcorp, AngloGold Ashanti and Newmont Mining Corporation.
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Philippine Gold Mining Industry - A Rich History

The Philippine gold mining industry plays an important role in the global gold production, generating 37,800 kg of the precious metal in 2003. Almost all of the 73 island provinces contain lode and placer deposits. However, the districts that have historically produced the highest amounts of gold are Baguio, Paracale, Masbaate, Surigao and Masara. Much of the gold generated in the Philippine gold mining industry is extracted through various small mining operations. Currently, the largest producer is the Lepanto Consolidated Mining Company. Other mining companies in the Philippines include TVI Pacific, Philsaga Mining Corporation, Lafayette Mining LTD and Apex Mining Company. In July of 2010, the Apex Mining Company made headlines when it found a new deposit of high grade gold in a southern mine.

The history of the Philippine gold mining industry dates back hundreds of years. When the Spanish conquistadors first arrived to the islands, they found the natives wearing gold ornaments from head to toe. According to records, Philippine natives had a vast knowledge of gold and the children were even able to determine the purity of gold alloys. The natives also had a complex vocabulary for gold and were skilled in various techniques of working with this precious metal.

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Gold Mining Industry in South Africa - A Leader in the World's Gold Production

The country of South Africa is the second highest producer of gold in the entire world. At one time, the gold mining industry in South Africa was the largest in the world, but China exceeded the country's production in the year 2007 and has held the title of largest gold producer since that time. Other countries with high gold production levels include Australia and the United States.

The successful gold mining industry in South Africa has had a significant impact on the development of Africa as an advanced an economically successful country. The nation's gold mining efforts began with the discovery of a diamond stone at the Orange River in 1867. Soon after, the Kimberly pipes were discovered and explored, and gold rushes began to Pilgrim's Rest and Barberton. The Witwatersrand gold rush took place in 1886. This historical event began the development of the gold field in the area and formed the well known city of Johannesburg.  Known as the Witwatersrand basin, this popular area has generated more than 41,000 tons of gold and continues to be mined today. It is a massive area that encompasses more than 400km.
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Canadian Gold Mining Industry - An Important Economic Resource

The Canadian gold mining industry is one of the highest producers in the world, falling behind only South Africa, the United States and Australia. Throughout history, the country of Canada has produced an extremely large and highly respected amount of gold. Therefore, this revenue stream is now an intricate part of the country's economy.

Throughout the history of the Canadian gold mining industry, this precious metal has been extracted from over 330 mines. These mines account for the majority of gold produced throughout the country at over 90% because productivity is extremely high and the cost to operate them is low. The rest of the gold in Canada is derived from base metal and placer mines. However, although gold mines are the number one producer of this precious metal, at least nine mines have been closed in recent years due to the low price of gold and exhausted ore reserves. In the year 1992, there were over 50 mines in full operation in Canada. Just 10 years later, only 30 mines remained operating. This number is expected to continue decreasing over time as the gold reserves are depleted. On a positive note, the gold lost from these mine closures is not expected to exceed 5 tons of output and the expansion of existing mines is expected to make up for this production. The major mining companies in Canada include TVX Newmont Americas, Barrick, Placer Dome, Mirimar Mining, Cambio and Kinross Gold.
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