The World’s Highest Grade Gold Mines

The World’s Highest Grade Gold Mines

The grade or concentration of a mineral or metal in ore directly affects costs associated with mining as well as its subsequent beneficiation and extraction of precious components.

Under otherwise equal conditions, a lower grade means a higher cost per unit weight of extracted metal making high-grade ore deposits a crucial consideration for all types of investors in mining.

The grade of metal in ore changes over time and every year publicly traded and other mining companies routinely reevaluate, recalculate and report mineable reserves applying different variables, with commodity prices fluctuations being the most important contributor for upgrades/downgrades in reserves.

This analysis covers those currently active gold operations throughout the world that are separate reporting units and which have recent reserves evaluation figures disclosed by the owners/operators.

Why only reserves have taken into account? This is because mineral reserve is the part of mineral resource that demonstrated economic viability in current market conditions. Therefore, ore reserves are way less speculative than ore resources and relatively precisely reflect changes in economic “wellbeing” of mines.

For more accurate basis of comparison, gold operations have been split into underground and open-pit, since these mining methods utilize different techniques or equipment and it does make sense to identify “the best in the breed” gold operations within one mining category, first. In this research, focus has been made on ore grade in reserves while putting aside other crucial parameters like ore tonnage and volume of metal contained in ore.

Here is the list of the world’s top ten open-pit and underground gold operations in terms of ore grade, based on available 2014 data.

Data retrieved from the IntelligenceMine database, which provides researchers, investors and suppliers with up to date global mining market intelligence – mining and mineral exploration company reports; mine, project and processing facility reports; securities filings; an interactive mapper and much more.


1. With 44.1 g/t of gold in reserves, Fire Creek mine, owned by Klondex Mines and located in Nevada, United States, is believed to be the highest grade underground gold mine in the world.

2. Macassa gold operations, Ontario, Canada, owned by Kirkland Lake Gold Inc., is part of one of Canada’s oldest and richest systems. The Kirkland Lake Main Break system boasts production of 24 million troy ounces of gold over a span of 86 years and average historic grade of 16.5 g/t. With 22.2 g/t average gold grade reported in reserves, South Mine complex of Macassa operations holds the second place.

3. Kedrovka mine, Republic of Buryatia, Russia, owned by the local Zapadnaya Gold Mining company, enjoys the third highest grade underground mine and has a 22 g/t average ore grade in reserves. The mine is currently focused on the Osinovaya vein – a huge quartz vein, which has significant exploration upside potential with at least 100 identified veins.

4. Barrick’s Turquoise Ridge mine complex (Nevada, United States), fourth in our ranking with 16.9 g/t gold in reserves, has considerable untapped potential and is becoming a core operation for Barrick.

5. Part of Newcrest’s Gosowong mine complex in Indonesia, Toguraci mine sits at fifth with 16 g/t grade of gold in reserves.

6. Peruvian Orcopampa mine, owned by Buenaventura, is sixth with 15.8 g/t gold grade.

7. Dvoinoye mine holds seventh place with 15g/t gold, being a part of Kinross’ Kupol operations and located in the Far East of Russia within the Chukotka Autonomous Region.

8. Pinson mine, Atna Resources’ underground operation in Nevada, United States, eighth in our list with 13.8 g/t gold grade in reserves.

9. Midas mine of Klondex Mines (Nevada, United States), is ninth with 12.9 g/t gold grade.

10. Chilean Pimenton mine, owned by Cerro Grande Mining, is tenth with 11.1 g/t gold grade.

After we have identified highest grade underground gold operations, the second step is to lookup for the leader amongst them when apply two components combined; ore grade and volume of gold contained in reserves, which is derived from ore reserves tonnage in-situ and grade (see Figure 1).

As shown in Figure 1, Barrick’s Turquoise Ridge production unit is out of competition, being both high-grade and high-tonnage underground gold mine operation.

Polymetal’s Albazino open-pit mine. Source: ICT Group.

The top 10 highest grade open-pit gold operations

1. Avlayakan open-pit gold mine located in Khabarovsk Region of the Russian Far East is a part of Polymetal’s Khakanja gold/silver operations. Interesting fact that due to extreme remoteness of Avlayakan, high-grade ore from this mine transported to Khakanja processing facility by sea and roads with a total length of the route of about 1,000 kilometers. In 2012, two barges carrying high-grade gold ore presumably from Avlayakan mine, capsized and sank in the Okhotsk Sea. With remarkable 18.2 g/t ore grade, this open-pit mine sits first in our ranking.

2. With 16.1 g/t average gold grade in ore, Doray Minerals’ Andy Well mine, Western Australia, holds second place. Doray is concentrating on production development at high-grade Wilber Lode, generating strong cash flow to allow rapid debt repayment and finance further open pit and underground gold production.

3. Tsokol, which is another Polymetal’s mine in our top list, is third with 8.5 g/t of gold on ore reserves. Located northeast of Magadan area in the Russian Far East, Tsokol is the part of Omolon hub that includes four operating mines, a number of other high-grade open-pit development projects, as well as processing facilities.

4. Brazilian Coruja open-pit mine of Andorinhas operations, owned by Troy Resources, is near the end of its life-of-mine, but still operational and holds fourth place with 5.8 g/t of gold in reserves.

5. Hislop mine, Ontario, Canada, is fifth with 5.2 g/t of gold in ore. Hislop mine located in the prolific Timmins gold mining district, which lies within the world famous Abitibi greenstone belt.

6. Albazino open-pit gold mine is located in the Polina Osipenko district of the Khabarovsk territory of the Russian Far East, is the flagship project of Polymetal in Russia, and like other projects of a company in this region lies in a very remote area with limited transportation options. Due to Albazino remote location, electricity is generated on-site by diesel-powered generators.

7. Turkish Cukuralan mine, owned by the local producer Koza Altin, is seventh in our list with 4.5 g/t of gold in reserves.

8. Ozerny mine is another Polymetal’s high-grade gold open-pit mine within Khakanja mine complex, Far East of Russia. With 4.4 g/t gold grade, Ozerny holds eighth place.

9. Evolution Mining’s Mt Carlton open-pit gold mine in Queensland, Australia, sits ninth with 4.3 g/t gold grade in reserves.

10 Randgold’s Gounkoto mine complex, located in Mali, closes list of top ten highest-grade open-pit gold operations. As can be seen, four Polymetal’s open-pit gold mines in Russia are in the top list, which is remarkable achievement.

Albazino and Gounkoto mines are the leaders amongst highest grade open-pit operations when consider ore grade and volume of gold contained in reserves, combined (Figure 2).

Figure 2. Grade/contained gold relationship for the top 10 highest grade open-pit mines.

Comments (55)

  • Brayden

    International directory enquiries buy paxil 20mg
    Bristol-Myers and Pfizer are hoping the new approved use forEliquis will significantly boost demand for Eliquis, whose saleshave been very disappointing since it was introduced in late2012

    2016-12-26 at 07:31
  • Bryon

    I’d like to speak to someone about a mortgage paroxetine cost walgreens
    Liverpool were thumped 3-0 by the reigning Champions League winners at Anfield last month.

    2016-12-26 at 09:20
  • John

    I’ll text you later buy 1000 mg zithromax
    Partners who own the practices take profit from the business once overheads and the salaries of staff, including more junior GPs on the payroll, are deducted.

    2016-12-26 at 11:07
  • Noah

    How many weeks’ holiday a year are there? order tetracycline no prescription
    “The girls already have a lot of social pressures,” said bank employee Faisal Salman

    2016-12-26 at 12:54
  • Mya

    How much is a First Class stamp? zithromax 1000mg prophylactic dose
    Given that, it’s no wonder that after the game Hall of Fame receiver Michael Irvin — the captain and selector of Beckham’s “Team Irvin” — sought out the rookie and gave him a big hug

    2016-12-26 at 14:43
  • Pierre

    Do you know what extension he’s on? zoloft commercial
    If teachers don’t understand this complex condition, the child can end up with severe anxiety and low self-esteem,” she said.

    2016-12-26 at 16:34
  • Clinton

    Which university are you at? ventolin inhaler 100 mcg fiyat
    Branstad said Monday that the poll — traditionally held in Ames the summer before a contested presidential caucus — is a turnoff for many candidates and could diminish the power of the state’s caucuses.

    2016-12-26 at 18:26
  • Jacob

    I live here online ventolin
    Still, as Foxconn ramped up assembly of iPhones and iPads in Brazil during 2012, reaping tax benefits, the company made a public commitment

    2016-12-26 at 20:18
  • Hannah

    A book of First Class stamps epiduo vs differin “This is clearly seen in UK figures and there has been a significant increase in the incidence of mouth cancer in Irish women in recent years

    2016-12-26 at 23:48
  • Floyd

    I’ll text you later generic prinivil Nigerians’ displeasure over the government’s conduct in the war was a factor in their booting President Goodluck Jonathan out of office in March 28 elections — the first time that an opposition politician has ousted an incumbent.

    2016-12-27 at 01:25
  • Dwain

    It’s serious baclofen 10 mg novartis The National Football League has been rocked by a recent series of domestic violence allegations against star players including Ray Rice, Greg Hardy and Adrian Peterson, who was also represented by Hardin.

    2016-12-27 at 04:57
  • Guadalupe

    No, I’m not particularly sporty order flagyl 500 mg online no prescription The CDC said flu shots may still offer some protection against drifted viruses, which could help reduce the risk of the most severe complications from the flu, such as hospitalization and death

    2016-12-27 at 06:41
  • Bertram

    On another call where can i buy zovirax acyclovir 5 cream We reach a particularly formidable security door where he tells me to clip on a personal Geiger counter.

    2016-12-27 at 08:17
  • Percy

    Where do you live? furacin spray Output from Africa’s top four growers – Ivory Coast, Ghana,Indonesia and Nigeria – which makes up over 70 percent of globalproduction, is projected to rise in 2013/14 after staying flatfor two years, according to Africa’s Ecobank.

    2016-12-27 at 13:12
  • Rocco

    Withdraw cash aciclovir crema precios But in Britain, the Alstom subsidiaries are seeking to havethe charges against them dismissed, partly for technical legalreasons and because one suspect remains in Switzerland and hasnot volunteered to come to London for interviews.

    2016-12-27 at 14:53
  • Brett

    It’s OK bisoprolol 10 mg precio The source said a member of Joe Girardi’s coaching staff attended a recent workout as well to get a first-hand look at A-Rod.

    2016-12-27 at 16:35
  • Rickie

    I’m from England buy 250 mg amoxil online Oilprices have been under pressure as the dollar has strengthenedand after the Organization of the Petroleum Exporting Countriesdecided against an output cut.

    2016-12-27 at 19:53
  • Wilburn

    Special Delivery elocon ointment price in india Jean advises offering to get the drinks in – going to the bar gives a man the opportunity to talk to you without all your scary mates watching and pointing and laughing and putting a curse on him.

    2016-12-27 at 21:34
  • Nilson

    I work here can you take robaxin and vicodin (Reporting By Robin Respaut; Additional reporting by LisaLambert; Editing by Paul Simao)

    2016-12-28 at 02:57
  • Casey

    Could you give me some smaller notes? depakote er blood level timing Count us among the people who think that Sergio Romo is still the better pitcher – how will Casilla react if Romo is breathing down his neck for the job he once held – and starred in? The Giants will likely be in the pennant race and Bruce Bochy is one of the few managers who is not afraid to make major changes anytime during the season.

    2016-12-28 at 11:55
  • Lorenzo

    Whereabouts are you from? cheap prinivil One off night for Vigneault, though, wasn’t enough to rattle the way the Rangers interpret their coach’s message

    2016-12-28 at 15:32
  • Barnypok


    2016-12-28 at 20:55
  • Carlos

    I quite like cooking zetia cheap Researchers are trying their best not to get drawn into explanations of these features until the better-resolution data is available

    2016-12-28 at 21:02
  • Esteban

    I quite like cooking order neurontin online A search for a new CEO is underway but there is no move to change the airline’s name, which some branding experts had said was necessary for a successful makeover.

    2016-12-28 at 22:55
  • Lynwood

    I like watching football sildalis side effects For the best up to date information relating to Market Rasen and the surrounding areas visit us at Market Rasen Mail regularly or bookmark this page.

    2016-12-29 at 00:49
  • Edwin

    We’d like to invite you for an interview where can i buy motilium The improvements also meant crews could carry more than simple hand grenades in their pockets

    2016-12-29 at 04:39
  • Goodsam

    Very funny pictures how effective is vermox for pinworms Feb 24 (Reuters) – Macy’s Inc said sales and marginsin the current quarter would be hurt by disruptions at U.S

    2016-12-29 at 08:08
  • Ashley

    Yes, I play the guitar order naltrexone tablets Speed, smarts, and the heart of a champion: using genomic analysis, scientists have identified DNA changes that helped turn ancient horses such as those in prehistoric cave art into today’s Secretariats and Black Beautys, researchers reported Monday.

    2016-12-29 at 13:30
  • Barnypok


    2016-12-29 at 14:39
  • Timmy

    I can’t hear you very well aciphex side effects webmd Simmons, who runs ESPN’s Grantland website and appears frequently on air, used strong language in accusing Goodell in a “BS Report” podcast of lying about his knowledge of details of Baltimore Ravens star Ray Rice’s domestic violence case.

    2016-12-29 at 15:20
  • Walter

    This is your employment contract arimidex online Malzahn fired longtime Southeastern Conference defensive coordinator Ellis Johnson after the season

    2016-12-29 at 23:54
  • Sanford

    I work for myself order lamictal online The Socialist government will cut social security spending by 9.5 billion euros ($12.05 billion) next year, officials said, in an attempt to cut a welfare system deficit that is set to come in at a bigger-than-expected 11.7 billion euros in 2014.

    2016-12-30 at 04:52
  • Antonio

    I can’t hear you very well lisinopril hctz 20 12.5 mg But the GDS team is convinced that its open approach, where you experiment in public and learn from your mistakes rather than launch the “finished” product with a big bang, is the way forwards

    2016-12-30 at 08:38
  • Tyrell

    Where are you from? aciclovir tabletten rezeptpflichtig currency against 10 major counterparts, rallied 2.3 percent to 1,198.93, the highest in data going back to 2004

    2016-12-30 at 08:38
  • Stanford

    How would you like the money? tinidazole side effects nhs The new Lifestyle Series III home entertainment systems and a new CineMate line of home cinema products, including three sound bar options, are now SoundTouch compatible

    2016-12-30 at 08:39
  • Robert

    I’d like to pay this cheque in, please buy epivir online
    central bank has been a great andprofitable strategy, but, if interest rates really are to rise,it may prove one of those trades that pays and pays until itproduces a ruinous drawdown.

    2016-12-30 at 08:40
  • Darrel

    Enter your PIN buy clomid 50mg “Many Irish primary schools have introduced healthy eating policies and this is a positive step and to be welcomed

    2016-12-30 at 08:40
  • Christopher

    History bisoprolol generique de quel medicament In order for any of this to have an impact, Google noted that not only does the browser have to perform faster, but it has to seem faster to the user

    2016-12-30 at 08:41
  • Irea

    I’ve only just arrived buy zithromax powder form IBMabandoned its 2015 operating earnings target and said it wouldpay Globalfoundries $1.5 billion over three years to take itsloss-making semiconductor unit.

    2016-12-30 at 08:41
  • Prince

    Have you seen any good films recently? buy cheap voltaren At trial, the Greenglasses said Julius Rosenberg had recruited David Greenglass as a spy and arranged for him to feed stolen atomic research and a detonator to a go-between, Harry Gold

    2016-12-30 at 14:16
  • Laverne

    Thanks for calling zyloprim This is how and why the justice system seems so cockeyed at this time in America, and why there is the cockeyed notion that somehow all these cases are the same, because the cops are white and the victims are black

    2016-12-30 at 16:09
  • Cooper

    I’m unemployed methocarbamol high Dr Doug Black, medical director for NHS England in Nottinghamshire, said: “Now that this patient screening exercise is complete, we will be focusing our efforts on what we can learn from this incident and ensuring all our findings are shared with the General Dental Council to inform their ongoing investigation into Mr D'Mello.”

    2016-12-30 at 16:10
  • Santo

    In tens, please (ten pound notes) buy itraconazole online They don’t want to give him a four-year deal but surely they’d have to now, thanks to the Miller signing, and while the super-bullpen scenario may be a tempting idea, guaranteeing $80 million or so to two relievers isn’t the most efficient use of funds at a time when the Yankees are pledging frugality.

    2016-12-30 at 18:03
  • Genaro

    About a year norvasc health canada There's no denying the harrowing experience of families whose members no longer know who they are

    2016-12-30 at 21:48
  • Emanuel

    Do you like it here? trazodone pill size He joined forces with Lewisham’s Labour council to try to have the National Front’s marches – in which he detected the “cancer of racism” – banned because of the risk of disorder

    2016-12-31 at 05:28
  • Teddy

    I work for a publishers cost of zithromax z-pak without insurance The policy of maintaining low interest rates in Europe ismaking it harder for companies to earn a return from assets theyhave invested as part of their pension plans, forcing them tomake extra payments to cover potential shortfalls.

    2016-12-31 at 09:12
  • Tilburg

    Very interesting tale dutasteride avodart forum Most lead is mined in tandemwith zinc and other minerals, silver being the most common

    2016-12-31 at 12:57
  • Lesley

    In a meeting buy zebeta without prescription Of these, 313 were confirmed to have suffered an attack, also known as a myocardial infarction (MI), and were investigated further.

    2016-12-31 at 16:39
  • Barnypok


    2016-12-31 at 18:25
  • Freeman

    Canada>Canada cost of estrace cream Nor is he likely to pitch into the eighth or ninth inning unless his pitch count is unusually low.

    2016-12-31 at 18:32
  • Eliseo

    Punk not dead buy cheap coumadin Etan’s disappearance prompted changes in how police and parents think of missing children

    2016-12-31 at 22:14
  • Valeria

    Sorry, you must have the wrong number tetracycline 250 mg capsules buy online On Monday, he flashed his speed and explosiveness, making a catch and turning upfield to make a play that Coughlin said was “pretty darn good.” Later, he seemed to come up lame on a play, instantly exiting the practice and never returning

    2017-01-01 at 00:06
  • Raymundo

    Looking for a job disulfiram (antabuse) dose He realises something has changed fundamentality in Britain and people in England, and Wales and Northern Ireland have recognised that too.”

    2017-01-01 at 05:50
  • Jamel

    I came here to study buy zerit Sadly, lots of them are getting turned down as their defences are not judged to be good enough to repel the attacks.

    2017-01-01 at 09:31
  • Wilbert

    A company car sildalis It is infectious and is spread by coming into direct contact with the discharge produced from the eyes or nose of an infected person through contaminated objects such as towels

    2017-01-01 at 13:12

Leave a comment

Your email address will not be published.