Largest gold mining companies Australia 2024, by market capitalization
Northern Star Resources Limited led the gold mining companies listed on the Australian Securities Exchange as of May 2024, with a market capitalization of almost 17 billion Australian dollars. Once a leading gold producer, Newcrest Mining Limited underwent a significant transformation in November 2023 when it was acquired by Newmont Corporation, reshaping the dynamics of the gold mining industry as it became integrated into Newmont's operations.
Newcrest Mining
Newcrest Mining started as a subsidiary of Newmont Mining Corporation in 1966. Today, it is a prominent name in the international mining market, though most of its operations lie in Australia. In fiscal year 2022, the company produced almost two million ounces of gold. In the same year, Newcrest Mining reported an underlying profit of 872 million U.S. dollars.
Gold mining down under
The volume of gold produced in Australia was forecasted to grow steadily until 2025, reaching a peak of almost 340 metric tons. While Australian gold mining has traditionally been an important segment of the global metal mining industry, the number of gold mines in the country was forecasted to decrease between 2021 to 2057. As the mines in operation inevitably run out of gold, industry experts have indicated that Australia could lose its place as the second biggest gold-producing nation as early as in 2024.