What Is The Richest Mine In The World?

Who owns the most gold privately?

The biggest gold investor in the world The largest single owner of gold on the planet is the U.S.

government.

At last count, Uncle Sam had 8,133.5 tons of gold (260 million ounces) stashed in vaults around the country like Fort Knox, which holds 147.3 million ounces..

Who owns the Grasberg mine?

Ownership. 48.8% of PT-FI owned by Freeport-McMoRan Inc.; 51.2% of PT-FI owned by PT Indonesia Asahan Aluminum (Persero) (PT Inalum), a state-owned enterprise that is wholly owned by the Indonesian government.

Which country does the most mining?

ChinaChina is not only a big user and exporter of minerals – it is also the world’s biggest miner as far as countries go. In 2018, the latest year available with the World Mining Congresses, China excavated almost 4.1 billion metric tons of fossil fuels and iron as well as non-ferrous and other metals.

What happens when gold runs out?

In real terms, it’ll probably take more than 20 years to deplete known reserves. As gold prices go up (which they inevitably will), recycling rates are likely to increase. On the other hand, as gold prices go up, rates of mine development and expansion will likely go up too. So they may well cancel each other out.

Which is the biggest mine in the world?

Bingham Canyon MineThe world’s biggest open-pit mine currently is the Bingham Canyon Mine in Utah. The copper mine, which is part of Rio Tinto’s Kennecott operation, is roughly 4km wide and more than 1.2km deep.

Which country has the purest gold?

Gold Jewelry Consumption Q4 2019RankCountryTonnes1India136.62China132.13U.S.34.84UAE11.56 more rows•Oct 28, 2020

What is the most expensive thing in the world?

What are some of the most expensive things in world today?Graff Diamonds Hallucination Watch – USD 55 million. … 1963 Ferrari 250 GTO – USD 70 million. … Bluefin Tuna – USD 3.1 million. … Antilia, Mumbai – USD 1-2 billion. … Manhattan Parking Spot – USD 1 million. … Leonardo da Vinci’s Salvator Mundi – USD 450 million. … Pasion Azteca, Platinum Liquor Bottle – USD 3.5 million.More items…•

Is Silver rarer than gold?

Most studies agree gold is overall the more rare of the two metals; however, above ground silver is actually more rare than gold. … Beneath the surface, silver is approximately 19x more abundant than gold. To date, over 1.5 million tonnes of silver have been mined.

Which is the most expensive metal on earth?

PalladiumPalladium is now the most valuable of the four major precious metals, with an acute shortage driving prices to a record. A key component in pollution-control devices for cars and trucks, the metal’s price doubled in little more than a year, making it more expensive than gold.

What US state produces the most gold?

Nevada1. Nevada. Currently the top gold mining state of the US, Nevada is home to three of the world’s top 10 gold mines and seven of the top 10 US sites. Nevada’s Goldstrike is the top gold mine in the US, followed by the Cortez and Carlin Gold Mines, with all three located in north-central Nevada.

What is the richest gold mine in the world?

Witwatersrand BasinWitwatersrand Basin (Johannesburg, South Africa) Located in South Africa, the Witwatersrand Basin represents the richest gold field ever discovered. It is estimated the 40% of all of the gold ever mined has come out of the Basin. In 1970, South Africa’s output accounted for 79% of the world’s gold production.

Where is the most gold on Earth?

South AfricaWorld’s Largest Deposits of Gold The massive deposits of the Witwatersrand mines in South Africa have produced more than 40 percent of the world’s total production of gold.

How much gold is left in the earth?

The below-ground stock of gold reserves is currently estimated to be around 50,000 tonnes, according to the US Geological Survey. To put that in perspective, around 190,000 tonnes of gold has been mined in total, although estimates do vary. Based on these rough figures, there is about 20% still to be mined.

Who owns the largest gold mine in the world?

Mponeng gold mine located near the town of Carletonville, South Africa, is owned and operated by AngloGold Ashanti. The underground gold mine is also currently the deepest mine in the world with a depth of more than 4km below the surface.

Who owns Kennecott mine?

Rio TintoSince Rio Tinto purchased Kennecott Utah Copper in 1989 it has invested about $2 billion in the modernization of KUC’s operations.

Which type of mining is most expensive?

Underground mines are more expensive and are often used to reach deeper deposits. Surface mines are typically used for more shallow and less valuable deposits. Placer mining is used to sift out valuable metals from sediments in river channels, beach sands, or other environments.

Which is the richest ore?

Despite record low spot uranium prices, Cameco Corp’s Cigar Lake mine grabs first place in this ranking, boasting remarkable USD$8,430 of uranium contained in one tonne of ore reserves. With ~17% U3O8 grade in reserves, Cigar Lake is also the world’s highest grade uranium mine.

Which country gold is cheapest?

The top 5 cheapest gold rates in country.Dubai, UAE.Bangkok, Thailand.Hong Kong, China.Cochin, India:Zurich, Switzerland.