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The firm was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. The company traces its roots back to 1887, when Cecil Rhodes founded Gold Fields of South Africa Limited. As of 2019, Gold Fields was the world's eighth-largest producer of gold. [4]
The South Deep mine is one of the largest gold mines in the South Africa and in the world. [1] The mine is located in the north-east of the country in Gauteng . [ 1 ] The mine has estimated reserves of 81.4 million oz of gold .
Between 1994 and 1998, the company was owned by Gold Fields of South Africa. [2] Between 1998 and 2003, the company was known as Gold Fields Mineral Services Limited. [ 3 ] In 1998, members of the research team completed a management buy out of GFMS from GFSA, and the consultancy gained full independence.
In 2009, the company's gold output dropped to 4.6 million ounces. [9] As of early 2008, the company had hedged 11.3 million ounces of gold, under previous CEO Bobby Godsell. [10] In January 2009, AngloGold Ashanti sold its 33% stake in the Boddington Gold Mine in Australia to Newmont Mining for US$1.0 billion. [11]
In October 1997, Gencor merged its gold assets with Gold Fields and the new company was called Goldco becoming the world's largest gold producer. [14]: B1 Brian Gilbertson became its first chairman and the transfer was paid for by the exchange of shares in new company. [ 14 ] :
In 2023, Ghana produced around 4.2 million ounces of gold, contributing to approximately 4% of the world’s total output. The main gold-producing regions are Ashanti, Western, and Eastern regions, with major players including Newmont, Gold Fields, AngloGold Ashanti, and Kinross Gold. Gold exports in 2022 accounted for about 12.3% of Ghana's GDP.
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In 2020 mining overall contributed $9.5 billion to the state's economy, $8.4 billion from gold and silver mining (all silver produced in Nevada is as a by-product from gold mining). Gold production from Nevada was higher than any other U.S. state, 4,632,690 troy ounces (144,090 kg) in 2020 (a decrease of 4.8% on 2019), accounting for 76% of ...