Aspundir: The World's Biggest Gold Mines

The World's Biggest Gold Mines

The price of gold has more than doubled in the past five years, creating considerable interest in trading the precious metal. Roughly $75 billion is traded in the London bullion market every day.

Despite demand, gold is extremely scarce. By some estimates, all of the gold ever mined in the history of the world would fill only two Olympic-size swimming pools. Given the U.S. Geological Society estimates that just 51,000 tons of global gold reserves remain in the ground, gold mining remains a lucrative business.

1. Grasberg
Location: Papua, Indonesia
Gold Production In 2011: 1,444,000
Size: 527,400 acres
Active Miners: Freeport-McMoRan Copper Gold
Mining Operations: Open pit, underground

2. Cortez Location: Elko, Nev.
Gold Production In 2011: 1,421,000
Size: 1,081 square miles
Active Miners: Barrick Gold
Mining Operations: Open pit

3 .Yanacocha
Location: Cajamarca, Peru
Gold Production In 2011: 1,293,000
Size: 96 square miles
Active Miners: Newmont Mining; Buenaventura; World Bank
Mining Operations: Open pit

4. Goldstrike
Location: Eureka and Elko Counties, Nev.
Gold Production In 2011: 1,088,000
Active Miners: Barrick Gold
Mining Operations: Open pit and underground

5. Veladero
Location: San Juan, Argentina
Gold Production In 2011: 957,000
Active Miners: Barrick Gold
Mining Operations: Open pit

6. Vaal River
Location: Klerksdorp, South Africa
Gold Production In 2011: 831,000
Size: 14,602 hectares
Active Miners: AngloGold Ashanti
Mining Operations: Underground

7. West Wits
Location: Carletonville, South Africa
Gold Production In 2011: 792,000
Size: 4,188 hectares
Active Miners: AngloGold Ashanti
Mining Operations: Underground

8. Lagunas Norte
Location: Santiago de Chuco, Peru
Gold Production In 2011: 770,000 oz
Active Miners: Barrick Gold
Mining Operations: Open pit

9. Kalgoorlie Super Pit
Location: Kalgoorlie, Australia
Gold Production In 2011: 750,000 oz
Active Miners: Barrick Gold; Newmont Mining
Mining Operations: Open pit