GOLD—2003 32.1

1

Throughout this report, “ounce” refers to troy ounce; 1 kilogram is 

equivalent to 32.1507 troy ounces.

GOLD

By Earle B. Amey

Domestic survey data and tables were prepared by Mahbood Mahdavi and Wanda G. Wooten, statistical assistants. The 

world production table was prepared by Regina R. Coleman, international data coordinator.

In 2003, domestic mine production of gold fell to its lowest 

level since 1989. The continuing trend toward consolidation 

among the major gold companies was the primary cause of the 7% 

decline from the 2002 level. Although gold output fell by 21,000 

kilograms per year (kg/yr), the value of the U.S. gold production 

increased to about $3.3 billion in 2003. Stronger global gold 

prices and the weakening of the U.S. dollar resulted in an increase 

in gold value for 2003. The United States dropped to the world’s 

third leading gold producer (behind South Africa and Australia) 

after being second since 1991 when U.S. production surpassed 

that of the Soviet Union. Nevada accounted for more than 80% 

of domestic production in 2003. The remaining output came from 

eight other States. Gold was produced at 50 lode mines, about a 

dozen large placer mines (all in Alaska), and numerous small placer 

mines (mostly in Alaska and the Western States). In addition, a 

small amount of domestic gold was produced as a byproduct of 

processing base metals, principally copper. Thirty mines yielded 

99% of the gold produced in the United States.

Domestic gold exploration activity increased on a total dollar 

basis for the first time since 1997, rising sharply to $113.6 

million in 2003 from $77.2 million in 2002. The percentage 

of the total world gold exploration budget going to the 

United States increased to 10.8% in 2003 from 9.9% in 2002. 

Worldwide gold exploration expenditures rose by 34.5% from 

those of 2002 after dropping by 8% in 2002 and by 22% in 2001 

(Lowery and others, 2004).

Commercial-grade refined gold came from about two dozen 

domestic producers. Of several thousand companies and artisans, 

a few dozen companies dominated the fabrication of gold into 

commercial products. U.S. jewelry manufacturing was heavily 

concentrated in the New York City, NY, and Providence, RI, 

areas, with other concentrations in California, Florida, and Texas. 

In 2003, the estimated end uses of gold were jewelry and arts, 

92%; dental, 4%; electrical and electronics, 3%; and other, 1%.

According to the World Gold Council (2004), 2003 was the 

13th consecutive year of unit sales increases for gold jewelry in 

the United States. Total U.S. gold jewelry sales exceeded $16.3 

billion, up by 2.5% from sales in 2002.

Trade in refined bullion comprised 61% of U.S. gold imports 

and 63% of exports; net exports of bullion increased to 220,000 

kilograms (kg), up by 19% from that of 2002. Canada provided 

almost 74% of the bullion imported, and Switzerland was the 

destination for more than 48% of the bullion exported (tables 4, 6).

The dollar price for gold rose throughout 2003, with the 

average price 17% above the average gold price in 2002. 

Engelhard Corp.’s daily price of gold ranged from a low of nearly 

$321 per troy ounce1 on April 7 to a high of about $418 per ounce 

on December 31. The average for the year was, to the nearest 

dollar, $365 per ounce. The previous year’s price ranged from 

about $279 to $357 per ounce and averaged $311 per ounce.

The 12-month London, United Kingdom, gold lease rates in 

2003 remained in the doldrums because the demand for lent gold 

fell more quickly than the reduction in the amount of gold lent to 

the market by central banks. Short-term lease rates continued to 

remain near zero (CRU International Ltd., 2004, p. 31).

Total world mine production of gold was about the same as the 

level reached in 2002. South Africa decreased its annual output 

after a small increase in 2002 but remained the leading producer 

among more than 80 gold-mining nations, followed by Australia, 

the United States, China, and Peru. Identified world gold resources 

at yearend 2003 were estimated to be 100 million kilograms 

(Mkg), of which 15% to 20% were byproduct resources; the world 

reserve base was estimated to be 90 Mkg, and reserves, 42 Mkg. 

[This report uses the resource and reserve terminology of the U.S. 

Geological Survey (USGS), which is republished annually in the 

USGS Mineral Commodity Summaries.] South Africa had about 

40% of the resources, 40% of the reserve base, and 14% of the 

reserves. The United States had about 9% of world resources, 4% 

of the reserve base, and 6% of the reserves.

About 15% of all gold mined is estimated to have been used 

in dissipative industrial uses or is either unaccounted for or 

unrecoverable (Thomas and Boyle, 1986, p. 6). Therefore, of 

an estimated 145 Mkg of gold mined in historic times through 

2003, 123 Mkg of gold remains in circulation, with about 32 

Mkg held by central banks as official stocks and about 91 Mkg 

held privately as bullion, coin, and jewelry.

In a USGS report on undiscovered deposits of gold and other 

metals in the United States, the amount of gold in undiscovered 

U.S. mineral deposits was estimated to range between greater 

than 13 Mkg (90% probability) and greater than 22 Mkg 

(10% probability) (U.S. Geological Survey, National Mineral 

Resource Assessment Team, 2000). The mean estimate of 

gold in undiscovered deposits was 18 Mkg with nearly onequarter of the gold estimated to be contained in undiscovered 

porphyry copper deposits. Other major gold deposit types 

considered in the report were hot spring gold, epithermal vein, 

plutonic porphyry gold, sediment-hosted gold, gold-silvertellurium veins, and low-sulfide gold-quartz vein deposits. Total 

discovered gold resources in the United States were estimated to 

be 27 Mkg; identified U.S. gold resources were estimated to be 

15 Mkg, and all U.S. gold production totaled 12 Mkg.

Production

In this report, domestic lode mine production data for gold 

were derived by the USGS from two separate voluntary surveys 

of U.S. operations—one for monthly production of copper, 
32.2 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2003

gold, lead, silver, and zinc from lode mines and the other for 

production of data surveyed annually. 

A survey was sent to all 50 lode gold producers believed to be 

operational in 2003; 49 responded. Four of the 49 respondents 

reported that their mines were closed and one reported reopening. 

The individual company production and performance data listed 

in table 3 and cited elsewhere in this report were obtained from 

published sources, such as company annual reports.

Of the total domestic gold produced during 2003, about 94% was 

extracted from gold ore, and the remaining 6% was derived from 

other precious-metal ores, base-metal ores, and placer deposits. 

By comparison, similar data assembled for 1980 indicated a 63% 

to 37% ratio. In both years, the contribution from placer mines 

amounted to less than 2% of the total gold produced.

Alaska.—The State’s Division of Geology and Geophysical 

Surveys reported that gold output decreased to 16,400 kg 

(528,000 ounces) worth $192 million in 2003 from 17,400 

kg (562,000 ounces) worth $174 million in 2002, a decrease 

in production of about 6% and an increase in value of more 

than 10% (Szumigala and Harris, 2004a). Placer production, 

which is included in the numbers above, rose to 700 kg (23,000 

ounces) from 620 kg (20,000 ounces) of gold.

The underground Fort Knox gold mine operated by Kinross 

Fairbanks Gold Mining Incorporated near Fairbanks began to 

produce gold in 1997. Kinross reported that the mine produced 

about 12,200 kg (392,000 ounces) of gold in 2003, making it the 

country’s sixth leading gold producer (Kinross Gold Corp., 2004, 

p. 27). For purposes of ranking in this report, Newmont Gold 

Company’s Nevada Mines are treated as a single operation.

The Greens Creek Mine on Admiralty Island near Juneau 

completed its seventh year at full production. Ore from the 

underground trackless mine was milled at the mine site. The 

smelter produced gold and silver dore, lead, zinc, and bulk 

concentrates. Hecla reported that the mine produced 3,100 kg 

(99,500 ounces) of gold (Hecla Mining Company, 2004). Greens 

Creek is a joint venture between Kennecott Greens Creek Mining 

Co. (70.3%) and Hecla Mining Company (29.7%).

USMX Inc.’s Illinois Creek gold mine in west-central Alaska 

remained on care and maintenance. The mine, however, 

continued to produce gold as the existing heaps were rinsed 

(Szumigala and Harris, 2004a, p. 9).

The Pebble property near Iliamma was Alaska’s largest 

exploration project in 2003. Northern Dynasty Minerals Ltd. 

completed more than 21,945 meters (72,000 feet) of core 

drilling in this copper-gold porphyry. The drilling was done to 

confirm, delineate, and extend higher-grade areas of the Pebble 

deposit (Szumigala and Harris, 2004b, p. 47). 

California.—Gold production in California decreased by 

more than 50% in 2003 (table 2). In northern California, 

Homestake Mining Company’s McLaughlin Mine was closed 

in 2003. It had been the State’s leading gold producer in 2002, 

even though mining ceased in 1996. The second leading gold 

producer, the Briggs Mine in southern California, which is 

owned by Canyon Resources Corp., produced 1,100 kg (37,000 

ounces) of gold. The Briggs Mine was expanded in 2003 to 

include the North Briggs and Goldtooth deposits. Mining of 

the Goldtooth deposit was completed in mid-August 2003, 

and mining of the last ores from the North Briggs layback was 

expected to be completed in April 2004 (Canyon Resources 

Corp., 2004).

Western Goldfields Inc.’s Mesquite Mine, near Brawley, 

ceased mining operations in the second quarter of 2002, with the 

depletion of the main ore body. Production from residual heap 

leaching continued in 2003.

Glamis Gold Ltd. (through its wholly owned subsidiary Glamis 

Rand Mining Co.) produced 1,100 kg (34,000 ounces) of gold at 

its Rand Mine near Randsburg (Glamis Gold Ltd., 2004, p. 5).

The Castle Mountain Mine near the Nevada-California State 

line in San Bernardino County, CA, produced an estimated 

440 kg (14,000 ounces) of gold. Residual gold production was 

expected to continue into mid-2004 because of continued heap 

leaching (MK Gold Company, 2004, p. 1). Castle Mountain 

was a joint venture between Quest Capital Corp. (75%) and MK 

Gold Company (25%).

Colorado.—Gold production in the State was 26% lower, 

despite a significant increase in production from the Nation’s 

ninth leading gold mine, the Cresson Mine, in the Cripple Creek 

District of Teller County. AngloGold Ltd. (2004, p. 30) reported 

that this open pit mining operation produced 8,800 kg (283,000 

ounces) of gold in 2003. Calais Resources Ltd. conducted an 

exploratory drilling program at its Consolidated Caribou project 

in late 2003. The project is located within the northeast-trending 

Colorado mineral belt (Keller and Carroll, 2004, p. 58).

Idaho.—Meridian Gold Inc.’s closure of its Beartrack Mine 

near Salmon in 2001 left Idaho with no active gold mines. 

Beartrack produced about 130 kg (4,000 ounces) of gold in 

2003, slightly more than one-half that of 2002. Leaching of 

crushed ore was completed in 2003 (Meridian Gold Inc., 2004).

Montana.—Exploration for gold increased, though no major 

company long-term activity was reported. The few existing 

exploration programs were confined to individuals and small 

companies (McCulloch, 2004, p. 76).

Placer Dome Inc.’s wholly owned Golden Sunlight Mine near 

Whitehall was Montana’s leading gold-producing mine with 

7,300 kg (235,000 ounces) of gold in 2003, 110% more than in 

2002 (Placer Dome Inc., 2004b, p. 8). Mining of the open pit 

was completed in August 2001. Gold production was suspended 

in December 2003 and will recommence in mid-2005 (Placer 

Dome Inc., 2004a, p. 10).

Nevada.—Although gold production fell to 229,000 kg (7.4 

million ounces), Nevada maintained its longstanding position as the 

Nation’s dominant gold-producing State. Of the Nation’s top 30 

gold-producing mines, one-half were located in Nevada. Newmont 

Gold Company produced 79,600 kg (2.56 million ounces) of 

gold from 12 open pit operations and 5 underground mines in 

Elko, Eureka, Humboldt, and Pershing Counties (Newmont Gold 

Company, 2004, p. 18). The Twin Creeks and Gold Quarry pits 

were expanded in 2003. The Leeville underground mine was 

expected to begin operating in late 2005, and the Phoenix project 

was expected to begin production in mid-2006. 

Barrick Gold Corporation was the Nation’s second leading 

gold mining company in 2003 and reported recovering 48,500 

kg (1.6 million ounces) of gold at its Betze-Post Mine in 

Eureka County. In nearby Elko County, Barrick continued the 

development of its Meikle Mine, the Nation’s top producing 

underground gold mine, which produced 17,200 kg (552,000 
GOLD—2003 32.3

ounces) of gold (Barrick Gold Corporation, 2004, p. 6). The 

mine had an underground cooling system to keep temperatures 

about 27° C (80° F), even though the temperature of the 

surrounding rock could be as much as 60°C (140° F) (Gold 

News, 1998). Betze-Post and Meikle are operations on the 

Carlin Trend that were developed within a 2,800-hectare 

landholding known as the Goldstrike property.

Northwest of Elko in Humboldt County, Queenstake 

Resources Ltd. (Canada) produced about 12,200 kg (392,000 

ounces) of gold at its Jerritt Canyon Mine, the Nation’s eighth 

leading gold mine. Queenstake acquired the property from 

AngloGold Ltd. and Meridian Gold Inc. on June 30, 2003 

(Queenstake Resources Ltd., 2004). Other gold mines in 

Humboldt County included the Hycroft (formerly the Crofoot/

Lewis) and the Marigold Mines.

South of and parallel to the Carlin Trend, the Battle 

Mountain/Eureka Trend runs from southeastern Humboldt 

County southeast through Lander and Eureka Counties. Gold 

mining operations along this trend in Lander County include 

the McCoy/Cove gold and silver mine, which ceased mining 

in March, and the country’s third leading gold mine, the Cortez 

Mine, owned by Placer Dome (60%) and Kennecott Minerals 

Company (40%), which produced 33,100 kg (1.1 million 

ounces) (Placer Dome Inc., 2004b, p. 8).

The Round Mountain Mine of Kinross Gold Corp. (50%) and 

Barrick Gold Corporation (50%), located about 95 kilometers 

north of Tonopah, produced about 23,500 kg (757,000 ounces) 

of gold during the year (Barrick Gold Corporation, 2004, p. 6). 

Round Mountain was the fourth leading U.S. gold producer.

Newmont continued to develop the Rossi-Storm deposit at the 

Midas Mine, which produced 6,800 kg (219,000 ounces) of gold 

in 2003 (Driesner and Coyner, 2004, p. 15). 

Exploration continued to increase in the State. Activity 

spread from Newmont’s Midway property in Nye County 

to the Belle Helen, Clifford, Ellendale, Golden Arrow, and 

Hannapah Districts. To the north, discoveries by Placer Dome 

Inc. fueled claim staking and drilling in the Cortez and Simpson 

Park Mountains of Eureka County. Several companies were 

actively exploring at Battle Mountain and in adjacent districts 

of Lander and Humboldt Counties. This activity was sparked 

by announcements of pending development and production at 

Newmont’s Phoenix project. Battle Mountain Gold Company 

continued its exploration project by extending the Phoenix zone 

at the Battle Mountain Complex, thereby adding about 31,000 

kg (1 million ounces) of gold to its reserve base (Tingley and 

Castor, 2004, p. 77). 

South Dakota.—Goldcorp Inc. operated the Wharf open pit 

gold mine near Lead, which produced about 2,200 kg (71,000 

ounces) of gold (Goldcorp Inc., 2004, p. 4).

Utah.—Rio Tinto Ltd.’s Bingham Canyon Mine, which was 

operated by Kennecott Utah Copper Corp., produced about 

9,500 kg (305,000 ounces) of gold as a byproduct of its copper 

mining operations near Salt Lake City. Long ranked as one of 

the Nation’s principal gold-producing mines, Bingham Canyon 

was the seventh leading gold producer in 2003. Kennecott also 

operated the nearby Barney’s Canyon Mine, an open pit and 

heap-leaching operation that produced 1,100 kg (35,000 ounces) 

of gold (Rio Tinto Ltd., 2004, p. 5).

Washington.—Echo Bay Mines Ltd.’s Kettle River 

underground mine, the only gold mine in the State, was closed 

in 2003 and produced no gold.

World Review

World gold mine production was only slightly higher than in 

2002. Increased production from mines in Asia and Oceania and 

to a lesser extent new mines in Australia, Laos, and Saudi Arabia 

was enough to offset the closures, lower ore grades, and operational 

difficulties that adversely affected output in North America and 

South Africa. According to its annual review of world gold supply 

and demand, Gold Fields Mineral Services Limited (GFMS) 

calculated that the total global supply of gold in 2003 was 4.14 Mkg 

(133 million ounces) compared with the previous year’s total supply 

of 3.98 Mkg (128 million ounces) (Klapwijk and others, 2004, p. 

7). GFMS also reported increases in official sector sales (10.1%), 

no increase in mine production, no net producer hedging, and no 

implied net disinvestment for sales of bars and coins by private 

investors. Old gold scrap levels continued to increase by more than 

13% in 2003, after an 18% rise in 2002 and a 16% rise in 2001.

On the demand side, GFMS reported that total fabrication 

was 114,000 kg (3.7 million ounces) less than its 2002 level. 

Jewelry fabrication decreased by 147,000 kg (4.7 million 

ounces) to its lowest level since 1991, owing to lower demand, 

particularly in Italy but also in the Arabic Middle East and East 

Asia. Bar hoarding decreased sharply, by 27%, largely as a 

result of lower bar demand in East Asia, in particular, Japan. 

Coin fabrication was up by 9%, largely owing to the sharp rise 

in Turkish coin fabrication. After 2 years of little change in 

volume, the amount of gold used in the electronics market rose 

by 14% in 2003, which reflected a strong growth across all 

electronic applications (Klapwijk and others, 2004, p. 10).

With regard to gold exploration, the Metals Economics Group, 

Halifax, Nova Scotia, Canada, determined from its annual survey of 

worldwide exploration budgets for 917 companies that $1.05 billion 

(48.1%) of the 2003 world exploration budget total for nonferrous 

metals was directed to gold, with 652 companies reporting active 

gold programs. The expenditures for gold were $271 million 

more than the $784 million (45.2% of the total) reported for gold 

exploration in 2002. As in the preceding 9 years, Latin America 

received the highest expenditure for gold—$250.1 million (24% of 

world gold exploration dollars) (Lowery and others, 2004).

Australia.—Australian gold mine production rose by about 

3% from that of 2002. Australia moved up to become the 

world’s second leading gold-producing nation. Of the 282,000 

kg (9.1 million ounces) of gold mined in Australia in 2003, 

Western Australia, Queensland, and New South Wales accounted 

for about 70%, 10%, and 10%, respectively (Australian Bureau 

of Agriculture and Resource Economics, 2004, p. 15). Western 

Australia’s production was derived principally from mining 

operations near Kalgoorlie. Other Australian gold-producing 

States, in descending order of output, were the Northern 

Territory, Tasmania, South Australia, and Victoria.

The new Thunderbox, Kirkalocka, Cornishman, and 

Challenger Mines added a combined 12,000 kg (386,000 

ounces) to the gold output. Higher gold production at the 

Ridgeway Mine, which was officially opened in April 2002, 
32.4 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2003

further contributed to the rise in output. The Super Pit also 

reported a significant increase in gold output, partly from highgrade pillar mining at the underground Mount Charlotte section, 

which had been scheduled to close in 2002 (Klapwijk and 

others, 2004, p. 40).

Brazil.—During 2003, total gold production increased 

modestly to about 48,000 kg (1.5 million ounces). Output from 

the informal, noncorporate mining sector, the Garimpeiros, was 

estimated to be the same as in 2002 at about 14,000 kg (450,000 

ounces) of gold. A large decline in the corporate sector came 

from the closure of the Igarape Bahia Mine (Klapwijk and 

others, 2004, p. 38).

Canada.—Canada dropped to seventh in the ranking of world 

gold producers, as its output dropped by more than 7% to 141,000 

kg (4.52 million ounces). Though some gold was recovered in 

all Provinces, Canada’s principal gold-producing provinces were 

Ontario (55%), Quebec (20%), British Columbia (16%), and Parie 

(4%). The decrease in production can partly be attributed to the 

closure of mines. The suspension of mining operations at the 

Kiena Mine in late September 2002 and the Con and Lupin Mines 

in August 2003 accounted for about 4,000 kg (13,000 ounces) of 

the decline. Further losses were reported at the New Britannia 

Mine, which experienced difficult mining conditions and lower 

ore grades (Klapwijk and others, 2004, p. 38).

Chile.—Gold output in Chile increased to 40,000 kg (1.29 

million ounces) owing to continued mine closures. Higher 

gold production at the Escondida and La Coipa Mines was not 

sufficient to offset reductions at, among others, the El Penon and 

Refugio Mines. Refugio has been producing gold from residual 

leaching of ore since the suspension of mining in May 2001. 

It was reported that, owing to the higher gold prices, the mine 

would be restored in 2005 (Klapwijk and others, 2004, p. 39).

China.—China produced an estimated 202,000 kg (6.49 

million ounces) of gold in 2003, up by 6% from the 192,000 kg 

(6.2 million ounces) of gold produced in 2002, making China 

the world’s fourth leading gold producer (Klapwijk and others, 

2004, p. 40). The Bank of China (BOC), one of four big stateowned banks, opened gold trading to individuals on November 

18, 2003, in Shanghai. The BOC set the lower limit for gold 

transactions at 10 grams to encourage individuals to participate 

in the trading of gold. The Shanghai Gold Exchange, which was 

set up in 2002, ended more than 50 years of Government control 

over the gold market in China (Platts Metals Week, 2003).

India.—The Bombay Bullion Association recommended 

that the customs duty on gold imports be decreased to help 

put an end to illegal imports of gold, mainly from neighboring 

Pakistan. If the duty is adopted, then India would cut its 

customs duty to Re100 ($2.14) per 10 grams of gold from 

Re250 ($5.36) per 10 grams of gold. A previous cut in duty 

from Re450 ($9.65) per 10 grams 2 years ago reduced illegal 

gold imports to less than 5% of total purchases. In addition, 

the Indian gold market is expected to replace the traditional 

99.9%-purity requirements with lower 99.5%-purity gold (CRU 

Monitor, 2003).

Indonesia.—Gold output decreased to about 140,000 kg (4.5 

million ounces) in 2003. Most of the gold came as a byproduct 

of copper mining at the Grasberg and Batu Hijau Mines, which 

produced more than 70% of Indonesia’s gold. Grasberg, the 

world’s leading gold-producing mine, yielded 98,000 kg (3.15 

million ounces), an 8% rise compared with production in 2002. 

The Kelian gold mine ceased mining in June 2003 but continued 

to process low-grade gold stockpiles (Klapwijk and others, 

2004, p. 40).

Papua New Guinea.—Gold production in Papua New 

Guinea dropped to 64,000 kg (2.06 million ounces) in 2003. 

Mining was completed at the Misima Mine in May 2001, with 

subsequent production coming from low-grade stockpiled ore, 

and output was cut at the copper-gold OK Tedi Mine, the result 

of reduced throughput owing to the scheduled replacement of 

one of the mills. The cutbacks were sufficient to negate the 

sharp increase at the Porgera Mine, which returned to normal 

operations after the power supply had been cut off by an act of 

vandalism in 2002 (Klapwijk and others, 2004, p. 41).

Peru.—Latin America’s leading gold producer reported 

a 9% increase to reach 172,000 kg (5.52 million ounces) of 

gold output in 2003. Peru’s leading gold mine and the world’s 

second leading gold mine, Yanacocha, contributed to the 

gain with close to 87,000 kg (2.80 million ounces) of gold, 

which was 23% more than in 2002. A modest increase in gold 

production was reported at the Pierina Mine to just more than 

28,000 kg (900,000 ounces) (Klapwijk and others, 2004, p. 39).

Russia.—Production in Russia grew by 1% to 170,000 kg 

(5.47 million ounces) of gold, keeping the country in the sixth 

position among the gold-producing countries. On a regional 

level, Krasnoyarsk generated just more than 30,000 kg (965,000 

ounces) of gold replacing Magadan as the country’s leading 

gold-producing territory. Ranked in second and third position, 

Magadan and Yakutia produced 26,000 kg (836,000 ounces) and 

20,000 kg (643,000 ounces), respectively. Part of the decline in 

Magadan can be attributed to lower production at the Kubaka 

open pit, where operations were completed at the end of 2002. 

Commercial banks were thought to have purchased more than 

162,000 kg (5.2 million ounces) of gold in 2003, or 89% of 

Russia’s production. The modest cut from buying levels in 2002 

may partly be explained by a new presidential decree, effective 

January 2002, which allowed the mining companies to export 

bullion directly (Klapwijk and others, 2004, p. 43).

South Africa.—Gold production in South Africa, the world’s 

leading gold-producing nation, dropped by 5%; South Africa’s 

share of world gold production, however, remained at 15% in 

2003, down from 30% in 1993. The considerable decline was 

largely a result of operational difficulties, lower ore grades, 

and the effects of a strengthening rand, which resulted in the 

suspension of mining activities at marginal production areas in 

the second half of 2003 (Klapwijk and others, 2004, p. 33).

Of the top 15 gold-producing companies in the world during 

2003, four were South African. AngloGold Ltd., listed on the 

Australian Stock Exchange 4 years earlier, dropped to become 

the second leading gold-producing company in the world. Gold 

Fields Ltd. was fourth in the world. The other two companies 

were Harmony Gold Mining Company Ltd. (6th) and Durban 

Roodepoort Deep Limited (14th). Durban Roodepoort Deep 

had been listed on the Australian Stock Exchange until March 

1999 (Klapwijk and others, 2004, p. 34).

Uzbekistan.—The state-run mining sector in 

Uzbekistan underwent significant restructuring in 2003. 
GOLD—2003 32.5

Kyzylkumredmetzoloto [the holding company of Navoi Mining 

and Metals Company (operator of the giant Muruntau Mine at 

Zarafshan)] and Uzolomosoltin (which manages five smaller 

state-owned mines) were liquidated. The production units were 

subsequently divided between Navoi and Almalyk Mining and 

Metallurgy Complex. In turn, these units were placed under the 

management of the ministry, the Agency for Precious Metals. 

Total gold production in Uzbekistan was unchanged in 2003; 

production at the Muruntau Mine declined by 6% to 67,000 

kg (2.15 million ounces), while production increased at the 

Almalyk gold mining units (Klapwijk and others, 2004, p. 43).

Outlook

Worldwide consolidation will continue in the gold industry as 

gold producers seek to secure their assets, cut costs, and exploit 

gold’s higher prices. The U.S. gold industry, which has been 

closing its gold mines (4 in 2003, 9 in 2002, 11 in 2001, 12 in 

2000, and 10 in 1999), also will continue to consolidate. Old 

mines have started to be reopened, however, and new mines 

are expected to be commissioned. World exploration spending 

for new gold resources is expected to continue to increase 

after several consecutive years of decreases, with most of the 

development happening within Latin American countries. 

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McCulloch, R.B., 2004, Montana: Mining Engineering, v. 56, no. 5, May, 

p. 75-77.

Meridian Gold Inc., 2004, Meridian Gold reports fourth quarter 2003 results and 

2003 year-end reserves and resources: Toronto, Ontario, Canada, Meridian 

Gold Inc. news release, February 25, p. 12.

MK Gold Company, 2004, MK Gold Company reports 2003 year end results: 

Salt Lake City, UT, MK Gold Company news release, March 26, 3 p.

Newmont Gold Company, 2004, Form 10-K—2003: U.S. Securities and 

Exchange Commission, March 15, 217 p.

Placer Dome Inc., 2004a, Placer Dome earns $60 million in the first quarter of 

2004: Vancouver, British Columbia, Canada, Placer Dome Inc. press release, 

April 26, 33 p.

Placer Dome Inc., 2004b, Placer Dome reports earnings of $229 million and 

15% reserve growth in 2003: Vancouver, British Columbia, Canada, Placer 

Dome Inc. press release, February 26, 33 p.

Platts Metals Week, 2003, Bank of China opens gold trading: Platts Metals 

Week, v. 74, no. 47, November 24, p. 4.

Queenstake Resources Ltd., 2004, Queenstake reports 2003 fourth quarter 

and second half production: Denver, CO, Queenstake Resources Ltd. news 

release, January 12, 2 p.

Rio Tinto Ltd., 2004, Rio Tinto quarterly production report for the quarter 

ending 31 December 2003: London, United Kingdom, Rio Tinto Ltd. news 

release, January 21, 22 p.

Szumigala, D.J., and Harris, R.H., 2004a, Alaska’s mineral industry 2003: 

Alaska Division of Geology and Geophysics Surveys Information Circular 

50, March, 14 p.

Szumigala, D.J., and Harris, R.H, 2004b, Exploration: Mining Engineering, 

v. 56, no. 5, May, p. 46-53.

Thomas, P.R., and Boyle, E.H., Jr., 1986, Gold availability appraisal: U.S. 

Bureau of Mines Information Circular 9070, 87 p.

Tingley, J.V., and Castor, S.B., 2004, Nevada: Mining Engineering, v. 56, no. 5, 

May, p. 77-82.

U.S. Geological Survey, 2000, 1998 assessment of undiscovered deposits of 

gold, silver, copper, lead, and zinc in the United States: U.S. Geological 

Survey Circular 1178, 21 p.

World Gold Council, 2004, The national retail report—Gold jewelry sales 2003: 

New York, NY, World Gold Council press release, July 12, 2 p.

GENERAL SOURCES OF INFORMATION

U.S. Geological Survey Publications

Contributions to the Gold Metallogeny of Northern Nevada. 

Open-File Report 98-338, 1999.

Geologic and Grade-Tonnage Information on Tertiary 

Epithermal Precious- and Base-Metal Vein Districts 

Associated with Volcanic Rocks. Bulletin 1666, 1986.

Geologic Characteristics of Sediment- and Volcanic-Hosted 

Disseminated Gold Deposits—Search for an Occurrence 

Model. Bulletin 1646, 1985.

Geology and Resources of Gold in the United States. Bulletin 

1857, 1998.

Gold. Ch. in Mineral Commodity Summaries, annual.

Gold. Ch. in United States Mineral Resources, Professional 

Paper 820, 1973.

Precious Metals. Mineral Industry Surveys, monthly.

Principal Gold-Producing Districts of the United States. 

Professional Paper 610, 1968.

Principles of a Resource/Reserve Classification for Minerals. 

Circular 831, 1980.

Other

American Metal Market, daily.

Canadian Mines Handbook 2001-02.

Engineering and Mining Journal, monthly.
32.6 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2003

Gold. Ch. in Mineral Facts and Problems, U.S. Bureau of Mines 

Bulletin 675, 1985.

Jewelers’ Circular–Keystone, monthly.

Mining Journal, biweekly.

Mining Record, The, weekly.

1999 2000 2001 2002 2003

United States:

Mine production:

Quantity kilograms 341,000 353,000 335,000 298,000 277,000

Value thousands $3,070,000 $3,180,000 $2,940,000 $2,980,000 $3,250,000

Gold recovered by cyanidation:

Extracted in vats, tanks, closed containers2 kilograms 190,000 142,000 117,000 99,600 89,000

Leached in open heaps or dumps

3 do. 130,000 194,000 195,000 177,000 174,000

Refinery production:

Concentrates and doré do. 265,000 197,000 191,000 196,000 197,000

Recycled materials (new and old scrap) do. 143,000 81,600 82,700 78,100 92,700

Exports, refined do. 435,000 440,000 395,000 185,000 220,000

Imports for consumption, refined do. 196,000 184,000 161,000 172,000 152,000

Net deliveries from foreign stocks in Federal Reserve Bank of

New York do. 303,000 356,000 259,000 40,000 30,000

Stocks, December 31:

Industry4 do. 14,700 9,300 3,700 3,500 5,600

Commodity Exchange (Comex)

5 do. 37,900 52,900 38,000 63,900 97,100

U.S. Department of the Treasury metric tons 8,170 8,140 8,120 8,140 8,140

U.S. Gold Futures Trading, volume6 do. 29,800 20,600 21,100 28,000 38,000

U.S. Department of the Treasury:

7

American Eagle gold coin kilograms 78,200 13,900 10,700 12,500 16,200

Other numismatic gold coins do. 430 330 250 370 422

Consumption in industry and the arts do. 245,000 183,000 179,000 163,000 200,000

Apparent demand, refined8 do. 399,000 337,000 257,000 264,000 203,000

Price, average

9 dollars per troy ounce 279.91 280.10 272.22 311.33 364.80

Employment, mine and mill only

10 10,300 10,400 9,500 7,600 7,300

World:

Production, mine kilograms 2,570,000 2,590,000 2,600,000 2,580,000 r 2,590,000 e

Official bullion reserves11 metric tons 33,500 33,000 33,000 32,200 31,800

1

Data are rounded to no more than three significant digits, except prices.

TABLE 1

SALIENT GOLD STATISTICS1

e

Estimated. rRevised.

5

Commodity Exchange (Comex) Division of the New York Mercantile Exchange.

4

Unfabricated refined gold held by refiners, fabricators, dealers, and the U.S. Department of Defense.

3

May include tailings, waste-ore dumps, and previously mined ore at some inactive mines.

2

May include small quantities recovered by gravity methods.

the New York Federal Reserve Bank plus net imports of bullion. Assumed to include gold held for investment purposes. Excludes gold contained in

8

Defined as refinery production from primary materials plus refinery production from old scrap plus net bullion flow to market from foreign stocks at

7

Fiscal year bullion disbursements to U.S. Mint coin programs. Fiscal year begins October 1, of year prior to year indicated.

6

Comex only.

11Held by central banks, governments, and international monetary organizations. Data from the International Monetary Fund.

10Data from the Mine Safety and Health Administration.

9

Engelhard Corp. industries quotation.

fabricated items, imported coins, and official monetary gold.

Northern Miner, The, weekly.

Platts Metals Week, weekly.

Randol Mining Directory 1999.

World Gold—A Minerals Availability Appraisal. U.S. Bureau of 

Mines Special Publication SP 24-94, 1994.
GOLD—2003 32.7

State 2002 2003

California 9,180 4,270

Nevada 240,000 227,000

Other States2 48,500 45,700

Total 298,000 277,000

TABLE 2

MINE PRODUCTION OF GOLD IN THE UNITED STATES, BY STATE1

(Kilograms)

2

Includes Alaska, Arizona, Colorado, Idaho, Montana, New Mexico, South Carolina, 

South Dakota, Utah, Washington, and Wisconsin.

1

Data are rounded to no more than three significant digits; may not add to totals shown.

Rank Mine County and State Operator Kilograms

1 Newmont Nevada operations2 Various counties, NV Newmont Gold Company 72,700

2 Betze-Post/Goldstrike Eureka, NV Barrick Gold Corporation 48,500

3 Cortez Lander, NV Placer Dome Inc. 33,100

4 Round Mountain Nye, NV Round Mountain Gold Corporation 23,500

5 Meikle/Goldstrike Elko, NV Barrick Gold Corporation 17,200

6 Fort Knox3 Fairbanks, AK Fairbanks Gold Mining, Incorporated 12,200

7 Bingham Canyon4 Salt Lake, UT Kennecott Utah Copper Corp. 9,490

8 Jerritt Canyon Elko, NV Queenstake Resources, Inc. 9,400

9 Cresson Teller, CO Cripple Creek & Victor Gold Mining Co. 8,830

10 Golden Sunlight Jefferson, MT Golden Sunlight Mines, Inc. 7,310

11 Marigold Humboldt, NV Glamis Gold Ltd. 4,420

12 Florida Canyon Pershing, NV Florida Canyon Mining, Inc. 3,170

13 Greens Creek Juneau, AK Kennecott Greens Creek Mining Co. 3,090

14 Getchell/Turquoise Ridge Humboldt, NV Placer Dome Inc. 2,890

15 Bald Mountain White Pine, NV do. 2,820

16 Wharf Lawrence, SD Wharf Resources, Ltd. 2,200

17 Denton-Rawhide Mineral, NV Kennecott Rawhide Mining Co. 2,010

18 Rochester Pershing, NV Coeur d'Alene Mines Corp. 1,630

19 Briggs Inyo, CA Canyon Resources Corp. 1,140

20 Barney's Canyon Salt Lake, UT Kennecott Barney's Canyon Mining Co. 1,090

21 Rand Kern, CA Glamis Rand Mining Co. 1,050

22 Castle Mountain San Bernardino, CA Viceroy Resources Corporation 440

23 Illinois Creek5 Yukon-Koyukuk, AK American Reclamation Group LLC 428

24 Beartrack Lemhi, ID Meridian Gold Inc. 126

W Homestake Lawrence, SD Homestake Mining Company (6)

W McCoy/Cove Lander, NV Newmont Gold Company (6)

W Mesquite Imperial, CA Western Gold Fields, Inc. (6)

W Midas7 Elko, NV Newmont Gold Company (6)

W Montana Tunnels Jefferson, MT Montana Tunnels Mining, Inc. (6)

W Ruby Hill Eureka, NV Homestake Mining Company (6)

news releases.

7

Formerly Ken Snyder.

Sources: Company annual reports, company 10-K reports submitted to the Securities and Exchange Commission, and company

Surveys Information Circular 50, March, 14 p.

TABLE 3

LEADING GOLD-PRODUCING MINES IN THE UNITED STATES IN 2003, IN ORDER OF OUTPUT1

W Withheld; mines are among the leading 30 gold-producing mines in the United States but are not shown in rank order to avoid

disclosing company proprietary information.

disclosing company proprietary data.

1

Data are rounded to no more than three significant digits; these mines accounted for more than 99% of the U.S. gold production

in 2003.

2

Includes Battle Mountain Gold Complex, Carlin Mines Complex, Gold Quarry Mine, Lone Tree Complex, Reona Mine, and 

Twin Creeks Mine.

3

Mine production refers to gold equivalent produced.

4

Mine production refers to total quantity of gold produced in concentrates. 5

Source: Szumigala, D.J., and Harris, R.H., 2004, Alaska's mineral industry 2003: Alaska Division of Geology and Geophysics 

6

Production information for Homestake, McCoy/Cove, Mesquite, Midas, Montana Tunnels, and Ruby Hill is withheld to avoid
32.8 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2003

Quantity Value Quantity Value Quantity Value Quantity Value

 Year and country (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands)

2002 556 $4,020 71,700 $720,000 185,000 $1,830,000 257,000 $2,550,000

2003:

Argentina -- -- -- -- 176 1,580 176 1,580

Armenia -- -- 19 208 259 2,660 278 2,870

Belgium 8 80 -- -- -- -- 8 80

Bolivia -- -- -- -- 48 415 48 415

Brazil -- -- -- -- 200 2,350 200 2,350

Canada -- -- 31 217 2,130 25,000 2,160 25,200

Cayman Islands -- -- -- -- 1 7 1 7

China 1 10 -- -- 31 334 32 344

Costa Rica -- -- -- -- 228 2,700 228 2,700

Czech Republic 1 5 -- -- -- -- 1 5

Dominican Republic 590 4,940 -- -- 70 504 660 5,440

El Salvador -- -- -- -- 9 112 9 112

France 8 91 -- -- -- -- 8 91

Georgia 2 20 -- -- -- -- 2 20

Germany 116 1,920 -- -- 508 3,040 624 4,960

Guatemala -- -- -- -- 299 3,780 299 3,780

Hong Kong -- -- -- -- 98 1,090 98 1,090

India -- -- -- -- 11 131 11 131

Indonesia -- -- -- -- 65 693 65 693

Ireland (5) 4 -- -- -- -- (5) 4

Israel -- -- (5) 8 -- -- (5) 8

Italy 11 83 -- -- 9 104 20 188

Japan 1 5 5 58 4 46 9 109

Korea, Republic of -- -- -- -- 16 127 16 127

Malaysia -- -- -- -- 493 5,140 493 5,140

Mexico 50 366 -- -- 11,600 128,000 11,600 128,000

Netherlands 1 11 -- -- 2 26 4 37

Norway -- -- -- -- 10 114 10 114

Pakistan -- -- -- -- 24 279 24 279

Peru -- -- -- -- 1,440 15,400 1,440 15,400

South Africa 1 7 -- -- 7 46 8 53

Spain -- -- -- -- 498 6,080 498 6,080

St. Lucia -- -- -- -- 1 6 1 6

Sweden -- -- 3 15 1 8 3 22

Switzerland 3 30 131,000 1,540,000 106,000 1,170,000 237,000 2,710,000

Thailand (5) 5 -- -- -- -- (5) 5

Trinidad and Tobago -- -- -- -- 7 74 7 74

Turkey -- -- 18 181 267 2,820 285 3,010

United Arab Emirates -- -- -- -- 1,050 11,200 1,050 11,200

United Kingdom 32 295 69 389 94,400 1,120,000 94,500 1,120,000

Uruguay -- -- -- -- 66 696 66 696

Venezuela -- -- -- -- -- -- -- --

Vietnam -- -- -- -- 136 1,260 136 1,260

Total 826 7,870 131,000 1,550,000 220,000 2,500,000 352,000 4,050,000

-- Zero.

1

Data are rounded to no more than three significant digits; may not add to totals shown. 2

Ash and residues data were zero for listed years.

TABLE 4

U.S. EXPORTS OF GOLD, BY COUNTRY1, 2

Ores and concentrates3 Dore and precipitates Refined bullion4 Total

Source: U.S. Census Bureau.

3

Includes base-metal ores, concentrates, and matte destined for refining. 4

Bullion also moves in both directions between U.S. markets and foreign stocks on deposit in the Federal Reserve Bank. Monetary gold excluded. 5

Less than 1/2 unit.
GOLD—2003 32.9

Quantity Value Quantity Value Quantity Value

 Year and country (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands)

2002 85,800 $507,000 10,900 $107,000 417,000 $8,550

2003:

Armenia -- -- 213 2,510 -- --

Australia -- -- -- -- 1,310 43

Belgium 2,750 2,560 -- -- -- --

Bolivia -- -- -- -- 1,040 19

Brazil -- -- -- -- 120 4

Canada 60,200 361,000 6 47 349,000 6,280

China 145 49 15 136 -- --

Dominican Republic 61 464 -- -- 41,200 1,260

El Salvador -- -- -- -- 403 7

France -- -- (2) 3 100 7

Germany 4,480 15,000 10 81 1,060 22

Guatemala 1,390 8,840 -- -- -- --

Hong Kong 2 16 60 755 16,600 298

India -- -- -- -- 867 16

Ireland -- -- 3 21 1,380 26

Israel 1 13 7 53 74,000 843

Italy -- -- 31 389 245 4

Japan 280 2,650 33 427 234 4

Korea, Republic of 8 3 9 64 934 17

Mexico -- -- 12 94 3,480 66

Netherlands -- -- -- -- 7,510 149

Peru -- -- -- -- 338 6

Portugal 1 8 -- -- -- --

Singapore 10 3 1 10 31,200 903

Spain (2) 7 -- -- -- --

Switzerland 4 30 96 1,030 2,550 46

Taiwan 3 24 18 223 253 5

Thailand -- -- 2 14 -- --

Turkey -- -- 13 155 -- --

United Kingdom 89,400 168,000 345 3,590 31,000 569

Venezuela -- -- -- -- 186 3

Total 159,000 559,000 874 9,590 565,000 10,600

TABLE 5

U.S. EXPORTS OF GOLD, BY COUNTRY1

Waste and scrap Metal powder Gold compounds

Source: U.S. Census Bureau.

-- Zero.

1

Data are rounded to no more than three significant digits; may not add to totals shown. 2

Less than 1/2 unit.
32.10 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2003

Quantity Value Quantity Value Quantity Value Quantity Value

 Year and country (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands)

2002 2,720 $27,700 42,200 $334,000 172,000 $1,740,000 217,000 $2,100,000

2003:

Armenia -- -- -- -- 14 144 14 144

Aruba -- -- -- -- 1,160 13,000 1,160 13,000

Australia 26 296 1 14 41 454 68 765

Austria -- -- -- -- 15 183 15 183

Belgium -- -- -- -- 13 157 13 157

Bolivia -- -- 289 2,170 -- -- 289 2,170

Brazil -- -- (4) 3 12,700 148,000 12,700 148,000

Canada 1,840 21,600 19 193 112,000 1,350,000 114,000 1,370,000

Chile 100 1,340 -- -- 6,250 72,300 6,350 73,700

China -- -- -- -- 15 221 15 221

Colombia -- -- 51,400 384,000 7,490 84,300 58,900 469,000

Costa Rica -- -- -- -- 5 42 5 42

Dominican Republic -- -- -- -- 116 1,160 116 1,160

Ecuador -- -- 55 421 -- -- 55 421

Equatorial Guinea -- -- 1 6 -- -- 1 6

Germany -- -- -- -- 99 1,120 99 1,120

Ghana -- -- -- -- 2 19 2 19

Guyana -- -- -- -- 67 850 67 850

Honduras -- -- 4,360 33,200 -- -- 4,360 33,200

Hong Kong -- -- -- -- 158 1,930 158 1,930

Italy -- -- -- -- 4 44 4 44

Mexico -- -- 2,240 28,200 8,750 102,000 11,000 130,000

Netherlands Antilles -- -- -- -- 17 230 17 230

Nicaragua -- -- 2,410 18,000 -- -- 2,410 18,000

Panama -- -- 590 4,490 118 1,210 708 5,700

Paraguay -- -- -- -- 43 478 43 478

Peru -- -- 32,300 340,000 72 809 32,400 341,000

South Africa -- -- 8 95 -- -- 8 95

Suriname -- -- -- -- 190 2,500 190 2,500

Switzerland -- -- -- -- 822 9,660 822 9,660

Taiwan -- -- -- -- 15 163 15 163

Tanzania -- -- 3 29 1 5 4 33

Togo -- -- -- -- 76 600 76 600

United Kingdom -- -- 1,460 20,400 -- -- 1,460 20,400

Uruguay -- -- -- -- 178 1,940 178 1,940

Venezuela -- -- 7 51 1,320 13,900 1,320 14,000

Total 1,960 23,300 95,200 832,000 152,000 1,810,000 249,000 2,660,000

TABLE 6

U.S. IMPORTS FOR CONSUMPTION OF GOLD, BY COUNTRY1

Ores and concentrates2 Dore and precipitates Refined bullion3 Total

4

Less than 1/2 unit.

Source: U.S. Census Bureau.

-- Zero.

1

Data are rounded to no more than three significant digits; may not add to totals shown. 2

Includes base metal ores, concentrates, and matte destined for refining. 3

Bullion also moves in both directions between U.S. markets and foreign stocks on deposit in the Federal Reserve Bank. Monetary gold 

excluded.
GOLD—2003 32.11

Quantity Value Quantity Value Quantity Value

 Year and country (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands)

2002 11,900 $74,400 10,700 $93,500 18,100 $952

2003:

Aruba 50 790 -- -- -- --

Australia -- -- 14 133 2,000 22

Belgium -- -- -- -- 1 2

Bolivia 9 67 2 25 -- --

Brazil 2 25 -- -- -- --

British Virgin Islands (2) 7 -- -- -- --

Burkina Faso -- -- 5 22 -- --

Canada 2,000 16,200 425 6,070 1,540 6

China 44 369 -- -- -- --

Colombia 906 8,510 34 289 -- --

Costa Rica 827 7,110 -- -- -- --

Czech Republic -- -- -- -- 19 3

Dominican Republic 6,940 68,500 108 1,090 -- --

Ecuador 109 1,250 -- -- -- --

El Salvador 3 30 -- -- -- --

France 29 235 -- -- -- --

Germany 14 121 2 35 11,900 238

Ghana -- -- 1 16 -- --

Honduras 30 288 3,390 34,300 -- --

Hong Kong 9 96 -- -- -- --

India 1 4 -- -- -- --

Ireland 110 800 -- -- -- --

Israel (2) 3 -- -- -- --

Italy 57 352 -- -- -- --

Jamaica 1 8 -- -- -- --

Japan -- -- (2) 4 14,000 462

Korea, Republic of 8 70 -- -- -- --

Liberia -- -- 56 576 -- --

Malaysia 123 1,160 -- -- -- --

Mexico 1,480 11,700 -- -- -- --

Netherlands 18 183 -- -- -- --

Netherlands Antilles (2) 5 -- -- -- --

Panama 472 4,710 -- -- -- --

Peru 5 30 -- -- -- --

Philippines 17 240 -- -- -- --

Singapore 4 49 -- -- -- --

Suriname 15 368 -- -- -- --

Switzerland 3 26 14 154 -- --

Taiwan 29 258 -- -- -- --

Thailand -- -- (2) 3 -- --

United Kingdom 1,620 9,400 -- -- 2,380 52

Uruguay -- -- 27 288 -- --

Venezuela 20 240 -- -- -- --

Total 15,000 133,000 4,080 43,000 31,800 785

TABLE 7 

U.S. IMPORTS FOR CONSUMPTION OF GOLD, BY COUNTRY1

Waste and scrap Metal powder Gold compounds

Source: U.S. Census Bureau.

-- Zero.

1

Data are rounded to no more than three significant digits; may not add to totals shown. 2

Less than 1/2 unit.
32.12 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2003

Country 1999 2000 2001 2002 2003e

Algeria -- -- 300 369 365 3

Argentina 38,515 25,954 30,632 r 32,530 r 38,355 3

Armenia 400 e 600 1,900 3,200 1,800 3

Australia 301,070 296,410 285,030 273,010 282,000 3

Belizee 6 7 r 1 1 1

Benine 15 r -- r, 3 16 r, 3 20 r 20

Bolivia 11,788 12,001 12,395 11,256 9,362 3

Botswana 2 4 2 8 8

Brazil4 52,634 50,393 51,867 r 47,886 r 48,000

Bulgariae 1,034 868 r 1,540 r 1,110 r 1,100

Burkina Faso 869 r 553 r 209 r 390 r 400

Burundi -- -- 415 483 r 500

Burma

e 267 3 250 200 200 150

Cameroon

e 1,000 1,000 1,000 1,000 1,000

Canada 157,617 156,207 158,875 151,504 r 140,559 3

Central African Republice 41 3 12 3 20 20 20

Chile 48,069 54,143 42,673 38,688 r 40,000

Chinae 173,000 180,000 185,000 192,000 r 202,000

Colombia 43,847 37,018 21,813 20,823 r 46,515 3

Congo, Brazzavillee 10 10 10 10 10

Congo, Kinshasa 207 52 50 50 e 100

Costa Ricae 165 3 50 r 100 100 110

Cote d'Ivoire 2,717 3,154 3,100 e 2,000 e 2,000

Cubae 1,000 1,000 1,000 1,000 500

Dominican Republic 651 -- -- -- --

Ecuador5 2,026 2,871 3,005 r 10,650 r 10,700

El Salvador

e 71 -- -- -- --

Equatorial Guineae 500 500 500 500 500

Eritrea 534 264 107 r -- r --

Ethiopia6 4,905 5,177 5,200 e 5,300 e 5,300

Fiji 4,428 3,842 3,858 3,731 3,250 3

Finland 5,900 e 4,951 5,552 4,600 e 5,600

Francee 3,600 2,632 3 3,000 2,800 2,800

French Guiana 2,819 3,469 3,971 2,971 3,000

Gabone, 7 70 70 70 70 70

Georgiae 2,000 2,000 2,000 2,000 2,000

Ghana 79,946 72,100 68,341 r 69,271 r 69,600

Guatemala

e 4,449 3 4,500 4,500 4,500 e 4,550

Guinea 12,001 13,104 16,264 r 16,666 r 16,000

Guyana 12,905 13,510 14,183 13,581 r 14,000

Honduras 879 878 4,574 r 4,984 r 5,000

India8 2,500 6,200 3,700 3,800 e 3,100

Indonesia9 127,184 124,596 166,091 142,238 r 140,000

Iran 930 765 770 e 650 r, e 500

Italy

e 700 709 3 503 3 500 500

Jamaica -- -- 214 214 e 200

Japan 9,405 8,399 7,815 8,615 8,143 3

Kazakhstan 20,236 28,171 27,100 27,000 e 30,000

Kenya 990 1,243 1,545 1,477 r 1,500

Korea, Northe 2,500 2,000 2,000 2,000 2,000

Korea, Republic of8 25,730 22,608 28,595 26,181 27,000

Kyrgyzstane 20,000 22,000 24,000 17,000 22,476 3

Liberiae 25 r 25 r 57 r, 3 42 r, 3 20

Madagascar 8 e 5 (10) -- e --

Malaysia 3,449 4,026 3,965 4,289 4,739 3

Mali 23,688 28,717 42,288 56,028 r 45,528 3

Mexico 23,755 26,375 26,300 e 20,617 20,000

Mongolia 10,146 11,808 13,675 12,097 12,000

Morocco -- e 505 e 1,191 r 2,654 1,863 3

Mozambique 19 r 23 22 r 17 r 63 3

TABLE 8

GOLD: WORLD MINE PRODUCTION, BY COUNTRY1, 2

(Kilograms)

See footnotes at end of table.
GOLD—2003 32.13

Country 1999 2000 2001 2002 2003e

Namibia 2,005 2,417 2,706 r 2,644 r 2,425 3

New Zealand 8,577 9,880 r 9,885 9,770 9,500

Nicaragua 4,448 r 3,673 r 3,840 r 3,904 r 3,900

Niger 21 r 25 r 30 r 28 r 30

Nigeriae 40 r 52 r, 3 37 r, 3 40 r 50

Oman 597 r 551 r 603 r 188 r 100

Panama

e 1,500 1,500 1,500 1,500 r 1,550

Papua New Guinea 65,747 74,540 67,043 65,200 64,000

Peru11 128,486 132,585 138,022 157,013 171,551 3

Philippines 31,031 36,540 33,840 40,000 38,000

Poland 489 367 349 296 r 300

Romaniae 3,500 r 3,500 r 3,500 r 3,000 r 3,000

Russia 125,870 143,000 152,500 168,411 r, 12 170,068 3, 12

Rwanda 10 10 10 e 10 e 10

Saudi Arabiae 4,570 3 3,800 5,000 4,192 r, 3 8,769 3

Senegale 550 550 550 550 550

Serbia and Montenegroe 1,260 1,121 3 1,100 1,100 1,100

Sierra Leone13 -- r -- r -- r -- r --

Slovakia 363 306 157 r 77 r 75

Solomon Islands 3,456 338 300 e 100 e 100

South Africa 451,300 430,800 394,800 395,173 r 375,787 3

Spain 5,081 4,310 3,300 3,600 e 3,300

Sudan 5,566 5,774 5,417 5,239 r 5,000

Surinamee 300 300 14 300 300 300

Sweden 4,400 3,570 4,986 4,500 r 4,300

Taiwan 13 9 2 -- e --

Tajikistane 2,700 2,700 2,700 2,700 2,700

Tanzania 4,767 15,060 30,088 37,000 r, e 46,000

Thailand -- -- 320 4,950 4,400

Turkeye 1,200 500 2,000 2,400 r, e 2,350

Uganda 5 56 (10) 3 r 5

United States 341,000 353,000 335,000 298,000 277,000 3

Uruguay 2,400 e 2,177 r 2,083 2,079 r 1,730 3

Uzbekistan 85,000 85,000 e 87,000 e 90,000 90,000

Venezuela 5,946 7,332 9,076 9,465 r 10,000

Vietname 1,500 2,000 3,000 3,000 3,000

Zambia

e 700 600 -- r -- r --

Zimbabwe 27,666 22,070 18,050 15,469 12,564 3

Total 2,570,000 2,590,000 2,600,000 2,580,000 r 2,590,000

TABLE 8--Continued

GOLD: WORLD MINE PRODUCTION, BY COUNTRY1, 2

(Kilograms)

e

Estimated. rRevised. -- Zero. 1

World totals, U.S. data, and estimated data are rounded to no more than three significant digits; may not add to totals shown. 2

Table includes data available through August 7, 2004.

3

Reported figure.

4

Officially reported figures are as follows, in kilograms: Major companies: 1999--42,367; 2000--42,025; 2001--46,001; 2002--32,886

(revised); 2003--43,000 (estimated); garimpos: 1999--10,267; 2000--8,368; 2001--5,866 (revised); 2002--5,000 (revised); and 2003--

5,000 (estimated).

5

Includes undocumented artisanal production.

6

Year ending July 7 of that stated.

7

Undocumented artisanal production.

8

Refinery output.

9

Excludes production from so-called people's mines, which may be as much as 18,000 kilograms per year, but includes gold recovered

as byproduct of copper mining.

10Less than 1/2 unit.

11Includes documented production from placer artisanal production. 12Mine output including gold recovered as a byproduct, but excludes secondary gold production, which for Russia in 2002-03 was

2,546 kilograms and 6,835 kilograms, respectively.

13Data are based on official exports and do not reflect gold moved through undocumented channels. 14Government estimates unreported production as high as 30,000 kilograms.