Gold & Silver Mining Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 7/8/2024
SIC Codes: 1041, 1044
NAICS Codes: 21222
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Gold & Silver Mining Industry Profile

Companies in this industry develop mine sites, mine and quarry gold and silver, and prepare gold and silver for sale. Major companies include Canada-based Barrick Gold, Kinross Gold, as well as Newmont (headquartered in the US), AngloGold Ashanti (South Africa), KGHM (Poland), Fresnillo (UK-based with primary operations in Mexico), Glencore (Switzerland), and Polymetal International (UK).

Worldwide, the industry produces about 3,100 metric tons of gold and 26,000 metric tons of silver in 2020, according to Statista. Gold ore is primarily mined in China, Russia, Australia, the US, and Canada. Mexico, China, and Peru, are the top silver producing countries.

The US gold and silver mining industry includes about 160 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $10 billion.

Many gold and silver mining companies also mine for other metals. Mining of iron, nickel, copper, and other metals, including gold and silver, is covered in the Metal Ore Mining industry profile.


Demand is driven by industrial production and economic growth. Individual company profitability depends on volume and operating efficiency. Large companies have more resources to devote to discovering and developing new deposits. Small companies typically own just one mine, limit exploration to that one property, and aim to operate it as efficiently as possible.


Major products of companies engaged in gold and silver mining include gold ore and silver ore. Gold and silver ...

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