Russian gold mining giant Polyus boasts the largest gold reserves base globally after the company announced that its total proved and probable ore reserves have increased 71% to 104 million ounces of gold as at 31 December 2020, compared to 61 million ounces of gold as at 31 December 2019.
Depletion of 7.5 million ounces was largely replaced by additions before revisions of 4.9 million ounces and net revisions of 1.1 million ounces primarily from mine plan improvements.
Barrick is third with 68 million ounces of gold reserves reported in 2020, a 4% decline over 2019.
This decline was due to the estimated mining depletion of approximately 2.5 million ounces, removal of 0.3 million ounces of gold following divesture of Newcrest’s 75% interest in Gosowong, as well as minor changes at Telfer and Lihir.
The increase of 5.7 million ounces in estimated gold reserves compared to December 31, 2019 was mainly a result of the conversion of 6.4 million ounces of resources to probable reserves at Lobo‐Marte.
As at December 31, 2020, Agnico Eagle’s proven and probable mineral reserve estimate compared with the prior year.
Harmony’s total attributable gold mineral reserves amounted to 23.8Moz at 30 June 2020, a 0.4% increase on the 23.7Moz declared at 30 June 2019.