Page 42 - Bullion World Volume 03 Issue 6 June 2023

Bullion World | Volume 3 | Issue 6 | June 2023

GLOBAL reserve gains in 2022 before ounces. This increase was partially

depletion.
offset by depletion of 2.9 million
ounces and reductions due to other
MINING Newcrest sits fourth. The company factors of 0.3 million ounces.
Harmony Gold’s total attributable
reported 61 million ounces of gold
reserves as at 30 June 2022, which gold mineral reserves amounted to
news reserves as at 31 December 2021 compared to 31.4 million ounces at
is a 3% decrease compared to
28.1 million ounces at 30 June 2022,
30 June 2021. The decrease was
(63 million ounces), primarily due to
mining depletion.
mainly due to the mineral reserves
reduction at the Tshepong and
Gold Fields is fifth with 52.1 million Bambanani operations as a result of
Top 10 largest gold ounces of gold in reserves reported the reduction of the life-of-mine of

mining companies in 2022 compared to 47.4 million the respective operations.
ounces in 2021.
in 2022 ranked by Kinross’ total estimated proven and

reserves. Agnico Eagle sits sixth. The probable gold reserves at December
31, 2022 were approximately 25.5
company’s proven and probable
Russian gold mining giant Polyus mineral reserves increased by million ounces, a decrease of 2.1
boasts the largest gold reserves 9% year-over-year to 48.7 million million ounces from 27.6 million
base globally. As at 31 December ounces of gold (1,186 million tonnes ounces (excluding 5.0 million ounces
2022, the company reported 97 grading 1.28 grams per tonne gold). related to the Chirano and Russian
million ounces of gold in reserves The company said the increase in operations) at December 31, 2021.
compared to 101 million ounces as mineral reserves was largely due to The decrease in estimated gold
at 31 December 2021. The company significant additions at Detour Lake reserves compared to December
said the year-over-year decrease in as well as successful conversion of 31, 2021 was mainly a result of
gold reserves was due to depletion mineral resources at several other production depletion.
by mining and changes to stockpile operations.
inventories due to additions from In 2022, Russian mining giant
mining and reclaim for processing. AngloGold Ashanti’s ore reserves Polymetal’s gold reserves
increased from 29.8 million ounces decreased by 9% year-on-year to
Newmont has the second largest in December 2021 to 30.4 million 24.7 million ounces, mostly due to
gold reserves base across the ounces in December 2022. This mining depletion. This was partially
industry. For 2022, Newmont annual net increase of 0.6 million offset by the successful exploration
reported 96.1 million ounces of ounces includes additions due to results at Omolon hub (Burgali and
gold mineral reserves, a 3.6% exploration and modelling changes Nevenrekan), Pesherny (Voro hub),
increase from the prior year total of of 2.8 million ounces, and changes in as well as initial reserve estimates at
92.8 million ounces. The company economic assumptions of 1.0 million Galka and Tamunier (Voro hub).
explained that additions of 8.6 million
ounces and acquisitions of 3.1
million ounces were partially offset
by depletion of 7.2 million ounces
and unfavorable net revisions of 1.2
million ounces.

Barrick is third with 76 million
ounces of gold reserves reported in
2022, an increase of 10% over 2021
(69 million ounces). The company
said that its gold mineral reserves
growth was led by Pueblo Viejo and
the Africa & Middle East region,
with nearly 12?million ounces of
attributable proven and probable

42