A STUNNING AMOUNT OF GOLD: Two Largest Gold Producing Countries In History

How much gold did the two largest mining countries produce in history?  Well, let’s just say that precious metals investors would be quite surprised to learn that the total cumulative gold production from the two leading countries is well over two billion ounces.  That is one heck of a lot of gold once we consider that only six billion oz of gold has been mined in recorded history.

Here are a few clues on the top two gold producing countries.  The country that produced the most gold in history experienced peak production in 1970 while the second largest topped out in 1998.  Interestingly, the largest gold producing country mined 1,000 metric tons (mt) of gold in 1970, and only one other nation has come close to supplying less than half of that amount in a year

According to the data from several sources, South Africa is the number one gold producer in the world by supplying nearly 1.7 billion oz of gold since 1871.  South African gold production started off slow at no more than 5,500 oz per year in the early 1870’s, but by 1896, the country was mining more than 2.5 million oz (Moz) of the shiny yellow metal annually.  It is no wonder the British Empire decided to take over control of the Transvaal Colony in South Africa from the Dutch Boers.

From the article titled, British Takeover Of South Africa (Part 1), here is the following chronology on how the Rothschilds controlled the international gold sector via the British Empire:

Mid 1880s – Gold is discovered in the Transvaal, triggering the gold rush. Unlike many other newly-discovered gold areas, South Africa had no need to borrow from the Rothschild banks to fund these ventures. Rather, the profit from the diamond fields helped to fund the gold-mines in the Transvaal. And since the British had annexed the Transvaal, and like diamonds, the Rothschilds controlled the international gold sector, even establishing the daily price of gold at N.M. Rothschild and Sons, in London. In essence, both the diamond and gold sectors came under British/Rothschild control from the onset. South Africa was becoming of increasing importance within the Rothschild/British Empire.

The Boers still controlled the Transvaal, and the British aimed to wrest political control away from the Boers. London gave instructions to effect a military takeover of the Transvaal.

1899 – British troops gather on the Transvaal border and ignore an ultimatum to disperse. The second Anglo-Boer War begins.

1902 – Treaty of Vereeniging ends the second Anglo-Boer War. The Transvaal and Orange Free State are made self-governing colonies of the British Empire.

Twenty-five years after the Rothschilds and British Empire took control over South Africa (1902), the country was producing more than 50% of the world’s annual gold supply at 10+ Moz.  Interestingly, South Africa was producing more gold in 1927 than Australia mined last year (9.5 Moz)… the world’s second-largest gold producer in 2017.

Now that we know that South Africa was the world’s largest gold producer in history, which country came in second?  The next largest gold mining country came in a distant second by producing only a third of South Africa’s 52,700 mt.  The United States ranked second in the world by mining 18,800 mt of gold since 1801:

Thus, South Africa and the U.S. produced 71,500 mt of gold or 38% of known global mine supply.  Excluding the former U.S.S.R. and Russia, the country ranked third in cumulative gold production is Australia:

According to the data from “The Sustainability of Mining In Australia,” cumulative gold production in Australia from 1851-2007 was 11,565 mt plus 2,610 mt mined during 2008-2017 (GFMS 2018 World Gold Survey).

Now, the reason I excluded the former U.S.S.R and Russia has to do with the incomplete and questionable data provided by these two countries.  However, the “Summarized Data on Gold Production,” published by the U.S. Bureau of Mines in 1929, estimated that Russia produced a total of 89 Moz of gold from 1801-1927.  Compared to the other top gold producers, we have the following:

1801-1927 Cumulative Gold Production

Transvaal, South Africa = 219 Moz

The United States = 214 Moz

Australia = 147 Moz

Russia = 89 Moz

In researching the data put out by the CIA in their “Soviet Gold Production, Reserves & Exports Through 1954,”, mine supply increased significantly in the former U.S.S.R during the 1930’s and after WW2.  However, after the collapse of the Soviet Union in 1989, gold production fell sharply.

Regardless, even if all the gold production data was made public by Russia, I doubt their cumulative gold production would surpass the United States.  However, total cumulative Russian gold production could be more than Australia, if the actual data was available.

To give you an idea of just how much gold these top producing countries mined in troy ounces, take a look at the following chart:

South Africa mined 1,694 Moz while the U.S. produced 604 Moz and Australia 457 Moz.  The total of these three countries is 2.7 billion oz or nearly half of the total cumulative global gold mine production.  Just think about this for a minute.  Of the 32,600 metric tons or 1.05 billion oz of current World Central Bank gold reserves, South Africa’s production accounted for more than one and a half times this amount.

Moreover, even though South Africa minted a large number of Gold Krugerrands over the past 50 years, the majority of its gold made its way into the market.  According to the data from GoldBarsWorldWide.com, there was 51 million oz of Gold Krugerrands minted from 1967 to 2013.  If we include the data for 2014-2017 (GFMS World Gold Survey), the total Gold Krugerrands coined are probably 54+ million oz.

The peak year of Gold Krugerrands was in 1978 when the South African Mint produced over 6 million oz.  However, the country’s total gold production that year was 22.6 Moz.  Thus, South Africa was supplying nearly 75% of its domestic gold mine supply to the market while 25% went to the minting of Gold Krugerrands.  More recently, in 2013, South Africa mined 5.5 Moz of gold and only minted 862,000 oz of Gold Krugerrands.  Which means, 84% of the South African gold was available to the market in 2013 while 16% went to the production of Gold Krugerrands.

When I did the research, I knew that South Africa was likely the largest gold producer in history, but I was surprised to find out that one country, actually one small mining area, produced more than a quarter of all the world’s gold.  Even the mighty California Gold Rush from 1848-1888 only produced 55 Moz of gold.

While the U.S. produced a lot of gold in the late 1800’s and early 1900’s, its peak production was in 1998 at 11.8 Moz.  In the past 20 years, the United States produced nearly 5,500 mt of gold (175 Moz) or nearly 30% of all domestic mine supply since 1801.

Unfortunately, only a very small percentage of investors have acquired gold and silver.  I imagine the number is now less than 1%.  While some in the Alternative Media Community believe this was a “Grand Conspiracy” by the elite, I rather think it was due to the wealthy’s drive for profits and the public’s desire for more goods and services than they could afford.

We must remember, most people would rather buy and use a nice car, boat, RV, and loads of high-tech gadgets than buy a lump of gold or silver just to look at it.  The public is “under-insured” and “over-burdened with gobs of stuff and crap.”  Now, when I say, under-insured, I am not referring to just health care, but including all aspects of being prepared for HARD TIMES ahead.

Most Americans would rather spend their surplus funds on THINGS to use and do than on protecting their family when the SHYTE HITS THE FAN.

STAY TUNED:  I am still putting together the final touches on the upcoming BIG CHANGES IN THE GOLD MARKET video.  It will be posted within the next few days.


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28 Comments on "A STUNNING AMOUNT OF GOLD: Two Largest Gold Producing Countries In History"

  1. Good day,

    I have been reading your site and am very impressed with the data/information accumulated.
    How much gold and silver do you recommend for one going forward to insure against what most assuredly is coming down the pike?
    Furthermore, what is your take on what we will be facing in the future in regards to the overall monetary system and energy systems?
    It seems as though the entire monetary system is about to blow out and its obvious the oil situation is no longer providing the energy to keep things going. A return to a simpler time ahead? There is so much kabuki theater with the tech gods/teslia morons fluffing up what they are doing to distract everyone from what is really going on, not to mention the morons buying the Civil War propaganda flowing out. Just a cover to make up for the insane loss of living standards about to hit.

    I appreciate everything you are doing and will continue to view your site.

    • Spanky Bernanke | July 9, 2018 at 7:44 pm |

      I get somewhat disgusted when I hear gold referred to as “insurance.” Insurance is something you utilize to transfer risk, just in case. You pool your currency with other premiums to secure a repayment if fire, flood, or tornado sharks land in your kitchen. We are 100% certain (well, nothing is 100% in statistics) that fiat will return to its inherent value. The dollar is something to wipe the smears with. The Fed ain’t gonna run out of trees, my friend. However, those South African Rothschilds mines are already miles deep. Gold isn’t insurance; it’s a simple transfer from turd smearing to wealth extension.

  2. Hi Steve. Quick question.

    Do you suggest buying lots of silver, or a small amount of gold, for the long run. Mike Maloney suggests 80% silver/20% gold, but that’s a lot of silver for a very small amount of gold.


    • If you accumulate silver, you will see how much of a pain it is to store, transport, sell, etc.

      Gold is much much easier and is much more established as a store of value around the world than is silver.

      My suggestion would be to flip it — 80% gold and 20% silver

  3. …Well… kinda thinkin’ we could see $1475 Gold overnight —almost any day now.

  4. Steve, the mention of the 2nd Boer War 1899-1902 really triggered a series of emotional dominoes for me. Sorry to get off topic, and delete this if you want. No offense will be taken. The English were having a very tough go of it fighting the Boers, especially in the northern Transvaal. They used the Australian Bushveldt Carbineers, a light, mobile fighting force that was effective against the guerilla tactics (first description of the term “guerilla” war tactics if I am not mistaken) used by the Boers. Among the orders given by the English field commander Lord Kitchener were for the Carbineers to shoot Boer prisoners. Once Germany started protesting and threatening to enter the war on the side of the Boers, the English made a “deal” where they would sacrifice 3 Carbineers on false charges of shooting prisoners and killing a German priest who had been acting as a Boer spy. Of course, during the war the English had been herding Boer women and children into concentration camps where thousands starved. The cruelty and neglect matched that of Andersonville or Auschwitz.

    A kangaroo court martial ensued, much like the kangaroo court that destroyed my life by handing everything to my physician ex-wife, because my lawyers had screwed up my case, suddenly pulled the rug from under me at trial and said I had to settle because my exposure was too high. My ex wound up with the entire marital estate, my medical career was ruined by a Medical Board suspension while doing her job while she collected full alimony against the statutes, etc. and I faced a ruinous medical malpractice suit as a result in which I paid excess judgement. No provisions for any of this made by my attorneys. Can’t sue them though. Losses, no matter how material, are always “speculative” if you try to sue your attorneys for legal malpractice. I wrote a memoirs about it called my “My Medical-Legal Back Pages.” Nom de Plume Bryce Sterling. All true. All unbelievable. Started in KY, then NC and ended in MS.

    In my book, I cited the movies “Breaker Morant” -the story of the sham trial in Petersburg, Northern Transvaal, of the Carbineers and also “Mission of the Shark” Stacey Keach- another sham trial in the scapegoating of Captain McVay for the sinking of the USS Indianapolis.



    Lt Harry Morant’s epitaph: Matthew 10:36 “And a Man’s foes shall be they of his own household.”
    As he was about to be executed by the English firing squad, he yelled out “Shoot straight you bastards.”
    The film makers may have added the phrase “don’t make a mess of it.”

    But the real lesson is that when there is money/gold/diamonds, and now it looks may be soon to be oil in short supply, then there is no telling what a country will do. Nothing has changed. Treachery is present at every turn.

    But to get back on topic, you are ABSOLUTELY RIGHT as I am in the process of selling my home and having to move (downsize). It is incredible the amount of junk- pure junk- that I have accumulated! I make sure to tell my daughter that it is a whole new world out there. You can not accumulate a lot of junk. You have to be mobile, even nomadic, otherwise you will waste a lot of money when you buy, and even more when you get a few pennies on the dollar at best when you have to sell- or rather dispose of it. Have some freeze dried food, Berkey/Sawyer/Katadyn, solar oven, some guns and ammo, ham radio, PM’s, 20 Liter Nato fuel cans to extend your range etc. And- knowledge/skills!

    • Sorry to hear about your situation Hubbs, but thank you for sharing. While we are somewhat off-topic, perhaps Steve won’t mind me posting this excellent documentary about the 2nd Boer War, it covers a lot of important history in relation to events in that country:

  5. Steve, thanks for researching and posting.
    Do you have a feel on how much gold China may be possibly holding onto? Total, not just banks. US seems to be holding onto theirs while convincing allies to part with their reserves to keep the lid on prices. At lest that’s a theory.
    Can’t find data on USSR/Russia cum gold production, this guy may know http://goldrussian.blogspot.com/

  6. this guy agrees with 89M oz Old Russia (2,800 MT) gold production but doesn’t give any number for Soviet time http://vsezolotoe.blogspot.com/p/blog-page_4551.html

  7. joe lindell | July 10, 2018 at 6:39 am |

    John Kelduff of Again Capital has this to say about the Permian: They’re finding more and more oil every day. The good old days are back, and you’re going to see all of these put into action i.e. new pipelines being constructed.

    • DisappearingCulture | July 10, 2018 at 7:41 am |

      And you are going to believe a financial guy, looking for people to invest through him, as a definitive source in a field [oil,geology] in which he is NOT an expert? Why would you do this?
      “finding more and more oil every day” does not equal economically feasible at current oil prices.

    • “John Kelduff of Again Capital has this to say about the Permian: They’re finding more and more oil every day. The good old days are back, and you’re going to see all of these put into action i.e. new pipelines being constructed.”

      To quote the words of Joe Pesci who said it in the movie My Cousin Vinny: “Everything that guy just said was bullshit”.

      • Joe Lindell | July 10, 2018 at 9:46 am |

        Rodster: I guess you’re right. Quoting an actor, who pretends for a living saying words that are written for him is a very reliable source for facts. I’ll keep him in mind. Can I quote you on this?

        • It was an absurd comment to highlight another absurd comment. Now Joe, where his data to backup all his fluff generalized, comments????

          Everyone in the oil business or who has experience in the field of energy and oil exploration says he’s wrong. The math and data that’s put out as well says he’s wrong.

          So you’re going to go all in on someone who’s a salesman selling/telling you the future is BRIGHT regarding cheap energy WITHOUT providing any evidence or data to backup his claim?

          And yes feel free to quote me if you like.

    • Joe Lindell,

      Please do me a favor and come back in here in a few years when the U.S. Shale Oil Industry has begun its DISINTEGRATION. You are listening to the WRONG PEOPLE. But, don’t take my word for it. Continue to believe the KOOL-AID.


  8. Alejandro Villa | July 10, 2018 at 10:06 am |

    The term “Guerrilla” or little war in Spanish comes from the war carried out by small groups of irregular fighters against Napoleon´s army in the first decade of the 19th century. Also the first use of a concentration camp was by the Spanish in Cuba against the Cuban guerriila fighters in their fight for independence from Spain ( !895 onwards until the Spainish American war ended the conflict in 1902)

    • “The company can produce oil for as little as $28 per barrel, they’re already set to produce 1,000 bpd by the end of this year and 5,000 bpd by the end of 2020.”

      1K – 5K bpd has got to be a joke. Was that a misprint?

      • Thomas Malthaus | July 10, 2018 at 12:24 pm |

        I just pass it on. I don’t vouch for it. I only ask questions.

        If the Canadians couldn’t squeeze a profit out of oil sands, difficult to understand how anyone else would.

      • Rodster,

        Petroteq is a desperate company now resorting to SPONSORED POSTS to get as many POOR UNWORTHY SLOBS to invest in the stock before it goes belly up.


    • Thomas,

      LOLOLOL…. yes I am familiar with this TURD called Petroteq. Please read my article here: https://srsroccoreport.com/biggest-breakthrough-energy-investor-warning/

      That was a sponsored post by a company on its LAST LEGS before BANKRUPTCY.



    • Do you know the difference between shale oil and oil shales?

  9. Thanks, Steve! Always a pleasure to read……!

  10. Very interesting web site and article, thanks.
    I tried to open the link “British Takeover Of South Africa (Part 1)”, and just got the following message: This Account has been suspendanded.
    Any idea why?

    • Marit,

      The website owner has an issue with its server hosting company. For whatever reason, the web server has suspended the website, maybe due to late payment or other issues.


  11. Steve my compliments on your excellent research.
    You again verify that a “resource extraction” economy, when the resource appear inexhaustible, will form a new government with an abundance of benefits for the populous becoming more and more democratic.
    But the moment the “resources” begin to peak and decline, so too will the benefits, finally with the collapse of the resource, so too will the economy and the government descend into an oligarchic or despotic form.
    What if there was a country based not on “resource extraction” but based on the people themselves?
    Seriously, based on the “individuals” sovereign rights?
    In good times it would become more and more democratic giving out more and more benefits and deviate more and more from it’s original form.
    In bad times it would decrease the benefits and return to it’s original form.
    This unique form of government is called a Republic.


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