May 19, 2020

Top 10 largest gold mines

Dale Benton
4 min
Grasberg in Papua, Indonesia

Owned by Freeport McMoRan with a large sharing arrangement with Rio Tinto, this gold mine contains a deposit of over 106.2mn ounces of gold.

In 2016, the mine produced more than one million ounces of gold, making it the fourth largest gold producer that year. The gold deposits on Mount Carstensz were first discovered by a Dutch geologist in 1936 following the implementation of foreign investment laws in 1967, with the Grasberg mine opened officially in 1973.

In February 2017, however, Freeport McMoRan announced that it was temporarily halting mining operations at Grasberg – which is also the third largest copper mine in the world – following a failure to reach an agreement with the Indonesian government on long-term investment plans.

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