Global Reserves

According to U.S. Geological Survey the global gold reserves in 2007 amounted to approximately 1498 million oz - which is sufficient for 20 years of mining at the current production rates.

USGS also indicate that the total “Reserve Base” amounts to approximately 3353 million ounces. The Reserve Base includes Measured and Indicated Resources and generally excludes the Inferred Category of Resources.

The highest level of gold reserves are indicated to be in South Africa (193 Moz)– followed by Australia (161 Moz) and Russia (161 Moz) and then USA (97 Moz) and Indonesia (97 Moz).

Company Reserves

The Top 20 gold producing companies covered by GoldVal.com (in Market Capitalisation terms) have reported total gold reserves (inc. some Silver as Gold Equivalent) of some 779 million ounces – representing 52% of the estimated global reserves. (It should be noted, however, that the statistics of GoldVal.com and those of USGS may not be strictly comparable).

The Highest reserves of these 20 Companies covered by GoldVal.com are in the African region – followed by North America and South America. 

At the current production rates for these companies, the average Reserve Life (See Definitions) is approximately 20 Years.

Company Resources

The Top 20 gold producing companies covered by GoldVal (in Market capitalisation terms) have reported total gold Resources (including Silver as Gold Equivalent) of some 1677 million ounces. This figure includes Measured, Indicated and Inferred Resources (see Definitions).

The Highest Resources of these 20 Companies covered by GoldVal.com are in the Africa region – followed by North America and South America. These Resource figures are skewed towards the South African gold companies – which report extensive resources. The Top 20 Companies include the three major South African companies - AngloGold Ashanti, Gold Fields and Harmony which report, in aggregate, some 643 million ounces of gold resource in the the Africa region - representing around 89% of the total.

At the average current production rate for these Top 20 companies, the Average Resource  Life (See Definitions) is approximately 44 Years. It should be noted, however, that all resources will not necessarily be converted into reserves.