There are two countries in the world that dominate gold production. Find out who the leaders in the mining industry are, producing hundreds of tonnes per year. The metallurgical industry is not only the driving force behind development, but also an important source of employment, having created more than 420,000 jobs in January 2024. In this sense, Mexico has established itself as the undisputed leader in gold production in Latin America. Historically, gold symbolises wealth, power and stability. While in countries such as Argentina the contribution of the mining industry to gross domestic product (GDP) is modest (0.91%), in Mexico this sector has become the main pillar of the economy, accounting for 2.5% of GDP. Learn about the current situation in the mining sector and discover which countries are the world’s largest gold producers.
Gold production in Mexico reaches new heights on the world stage
According to the Mineral Commodity Summaries 2025 report by the United States Geological Survey (USGS), the Mexican Republic produced 130 tonnes of gold in 2024, representing significant growth compared to the 127 tonnes produced the previous year.
Mexico’s great gold treasure and its secret location
The state of Zacatecas occupies a central place in this dynamic. Within its borders lies the Peñasquito mine, a world-renowned deposit that in 2022 provided almost 29% of the country’s total gold production, generating revenue of 900 million dollars. The history of the mining industry in Mexico dates back to the Spanish colonisation, when the discovery of gold in the 16th century determined the course of the country’s development. Today, this legacy manifests itself in the form of a modern and robust industry.
Mexican gold exports have reached record levels: in 2024, foreign sales totalled US$5.755 million, with the United States being the main destination for exports.
The Mexican Mining Chamber (CAMIMEX) highlights the importance of this and other large-scale operations, which not only contribute to the development of the national economy, but also position the country as a key player in the global gold market.
Leading countries in gold reserves worldwide
The value of gold transcends borders and economic systems. Its status as a ‘safe haven’ makes it an indispensable asset for governments and central banks around the world. This stability protects it from economic crises and keeps it a valuable asset in any portfolio. In terms of gold reserves, the United States tops the list with more than 8,133 tonnes, followed by:
- Germany
- Italy
- France
At the top of the list of the world’s largest producers are powers such as China, with 380 tonnes per year, and Russia, with 310 tonnes. Mexico shares sixth place with Kazakhstan and Ghana, with 130 tonnes.
