The World’s 10 Largest Gold Mines
　　01. Muruntau Gold Mine
　　2016 Production: 68.12 tons
　　The Muruntau gold mine is owned by the government of Uzbekistan. It has easily earned the title of the world’s largest gold mine, with its output nearly twice that of the second-largest mine. However, GFMS points out that information about this mine is not transparent, as for a long time, details concerning the mine have been classified as state secrets.
　　02. Pueblo Viejo Gold Mine
　　2016 Production: 38.81 tons
　　Pueblo Viejo is one of the world’s largest gold mines, jointly developed by Barrick Gold Corporation and Goldcorp Canada, which hold a 6:4 stake in the mine. Located in the Dominican Republic, the mine’s production increased by 22.65% year-on-year in 2016.
　　03. Goldstrike
　　2016 Production: 34.21 tons
　　The Goldstrike gold mine, one of Barrick Gold Corporation’s largest gold mines, is located in Nevada, USA. The mine consists of an open-pit mine and two underground mines. As of December 31, 2016, Goldstrike’s gold reserves totaled 251.94 tons. In 2017, the mine was expected to produce between 28.3 and 29.58 tons, with production costs ranging from US$910 to US$980 per ounce.
　　04. Grasberg Gold Mine
　　2016 Production: 33 tons
　　The Grasberg gold mine is a copper-gold mine located in Indonesia. The mine is primarily owned by Freeport-McMoRan, with the Indonesian government holding approximately 9% of the shares. The mine has been in operation since 1990, but recently it has faced several challenges: Freeport and the Indonesian government are in dispute over contract terms, which could potentially lead to the layoff of tens of thousands of workers.
　　05. Cortez Gold Mine
　　2016 Production: 32.97 tons
　　The Cortez gold mine, another large-scale mine owned by Barrick Gold Corporation, is located in Nevada, USA. In 2016, Cortez gold mine’s gold production increased by 6.11% year-on-year. For 2017, the mine’s gold production is expected to range between 38.88 and 40.12 tons, with annual sustaining costs projected at between US$430 and US$470 per ounce. As of December 31, 2016, the mine’s proven and probable gold reserves totaled 317.26 tons.
　　06. Lihir Gold Mine
　　2016 Production: 30.82 tons
　　The Lihir gold mine was acquired by Newcrest Mining in 2010. The mine is located on Lihir Island in Papua New Guinea. Since 1997, the mine has produced 311 tons of gold.
　　07. Carlin Gold Mine
　　2016 Production: 29.36 tons
　　The Carlin gold mine, owned by Newmont Mining, is a gold mine located in Nevada, USA. It comprises three distinct sections: Phoenix, Long Canyon, and Twin Creeks. The mine’s production increased by 6.14% in 2016.
　　08. Olimpiada Gold Mine
　　2016 Production: 27.87 tons
　　The Olimpiada gold mine, located in Russia, is an open-pit mine owned by Polar Gold Company. Production at the Olimpiada gold mine began in 1996, and it is the company’s largest gold operation. The mine holds gold reserves totaling 936.22 tons. In 2016, the mine’s gold production increased by 17.88% year-on-year.
　　09. Boddington Gold and Copper Mine
　　2016 Production: 27.32 tons
　　The Boddington gold mine is one of Australia's largest gold mines. Initially owned by Newmont, AngloGold Ashanti, and New Jersey, the mine is now wholly owned by Newmont. In 2016, Boddington gold mine’s gold production increased by 10.62% year-on-year.
　　10 Kalgoorlie Super Pit
　　2016 Production: 23.58 tons
　　The Kalgoorlie Super Pit, located in Western Australia, is jointly operated by Barrick and Newmont in a 5:5 partnership. Thanks to increasingly higher ore grades, the mine’s production is set to increase significantly.
 
　　The World’s 10 Largest Copper Mines
　　1. Chilean state-owned (Codelco)
　　In the first quarter, Chile's state-owned Codelco saw its copper production decline by 11% year-on-year, due to declining ore grades at aging mines. However, the initial recovery in copper prices boosted the company's profits. The company’s wholly-owned mines produced 390,000 tons of copper, while its total copper production—including mines in which it holds stakes—amounted to 416,000 tons.
　　2. Freeport-McMoRan
　　In the first quarter of 2017, Freeport’s copper production totaled 386,000 tons, a year-on-year decrease of 22%. Excluding the impact from the sale of the Tenke copper mine (which was acquired by Luoyang Molybdenum and whose production now falls under Luoyang Molybdenum’s control), the year-on-year decline was 11%. The primary reduction in output was seen at the Grasberg copper mine in Indonesia, while the Cerro Verde copper mine in Peru, also part of the company’s portfolio, experienced a moderate drop in production as well.
　　3. Glencore
　　In the first quarter of this year, Glencore’s copper production fell by 3% year-on-year to 324,100 tonnes. The first-quarter output was affected by several weather-related factors, including Cyclone Debbie in Australia, floods in Peru, and above-normal rainfall in the Democratic Republic of the Congo. Meanwhile, ore grades at some mines have declined. Glencore may adjust its equity stakes in several copper mines this year.
　　4. BHP Billiton
　　In the first quarter of 2017, BHP’s copper production totaled 227,000 tonnes, a year-on-year decrease of 43.9%, primarily due to the 44-day strike by workers at its Escondida copper mine in Chile. Following the strike, BHP lowered its annual copper production target for the Escondida mine from 1.07 million tonnes to between 780,000 and 800,000 tonnes. At the same time, BHP revised downward its 2017 copper production forecast, reducing it from 1.62 million tonnes to between 1.33 and 1.36 million tonnes.
　　5. Group Mexico
　　In the first quarter of 2017, Mexico Group’s copper production fell by 6% to 247,000 tons, primarily due to the closure of the Hayden smelter operated by Asarco, which led to an 18% decline in its copper output.
　　6. Anglo American
　　In the first quarter, Anglo American’s copper production fell by 3% to 142,600 tonnes. While the Collahuasi copper mine continued to see rising output, this was offset by lower-than-expected ore grades at the Los Bronces copper mine. Additionally, the temporary suspension of mining operations at the El Soldado copper mine resulted in a production reduction of approximately 3,000 tonnes.
　　7. Southern Copper
　　In the first quarter of 2017, Southern Copper achieved a production volume of 222,000 tons, representing a slight year-on-year decrease of 3.5%. Southern Copper is also a company worth paying close attention to in the coming years, as it is expected to significantly increase its copper concentrate output alongside First Quantum. The expansion project at its Toquepala copper mine will begin production in the second quarter of 2018, adding an incremental 100,000 tons per year. Southern Copper is committed to reaching a total production capacity of 1.2 million tons per year by 2021.
　　8. Rio Tinto
　　In the first quarter of 2017, Rio Tinto’s copper production fell by 37% year-on-year to 84,200 tonnes. Rio Tinto holds a 30% stake in Chile’s Escondida copper mine. In February, workers carried out a six-week-long strike. According to company documents, Rio Tinto has lowered its full-year copper production forecast to between 500,000 and 550,000 tonnes, down from its previous target range of 525,000 to 665,000 tonnes per year. The Escondida copper mine is expected to return to normal production levels by July of this year.
　　9. Antofagasta (Antofagasta PLC)
　　In the first quarter of 2017, Antofagasta’s copper production reached 171,900 tons, an increase of 9.4% over the same period last year, but a decrease of 16.4% compared to the previous quarter, due to lower ore grades. Antofagasta maintained its 2017 production target at between 685,000 and 720,000 tons.
　　10. First Quantum
　　First Quantum’s copper production for the first quarter of 2017 was 132,400 tons, representing an 11% year-on-year increase. The company’s planned production for 2017 is 5.7 million tons, with an annual growth rate of 5.6%.
 
　　The World’s 10 Largest Lead-Zinc Mines
　　1. Rampura Agucha
　　Location: India
　　Affiliated Company: Vedanta Limited
　　Reserves: 51.1 million tons; Grade: 14.0% zinc, 1.8% lead; Resource amount: 5.27 million tons.
　　Mine lifespan: open-pit until March 2018, underground until 2030.
　　Raw ore production capacity: 6.15 million tons/year
　　Zinc Production: In fiscal year 2016 (March 2015 – March 2016), zinc production reached 510,000 tons. For fiscal year 2017, production is expected to increase slightly. A recent company announcement indicated that the open-pit mine portion will be closed earlier than originally scheduled—from 2020 to March 2018. Meanwhile, the underground mining operation is estimated to reach full production only in 2019. Consequently, zinc production from this mine may decline again in 2018. Once the open-pit mining is shut down and the underground mining reaches full capacity, annual zinc production is expected to be approximately 300,000 tons.
　　2. Red Dog
　　Location: United States
　　Company: Teck Resources
　　Reserves: 56.6 million tons; Grade: 14.6% zinc, 4.1% lead; Resource amount: 200,000 tons.
　　Mine lifespan: 1989–2031
　　Zinc Production: Zinc production in 2015 was 567,000 tons, with an expected production of 570,000 tons in 2016.
　　3. Antamina
　　Location: Peru
　　Affiliated Companies: BHP (33.75%), Glencore (33.75%), Teck (22.5%), Mitsubishi Group (10%)
　　Reserves: 598 million tons, Grade: Zinc 0.97%, Resource Amount: 1,097 million tons
　　Mine lifespan: 2001–2029
　　Zinc Production: In 2015, zinc production reached 235,000 tons. For 2016, zinc production is expected to be 180,000 tons. As mining shifts to higher-grade zinc deposits, future production will increase significantly. From 2017 to 2019, zinc production is projected at 350,000 tons, and from 2020 to 2022, zinc production is forecasted at 376,000 tons.
　　4. Mount Isa
　　Location: Australia
　　Company: Glencore
　　Reserves: 78 million tons, Grade: 7.5% zinc, 4% lead; Resource amount: 470 million tons
　　Mine lifespan: The Black Star mine has a lifespan until 2016, the Lady Loretta mine until 2021, and the George Fisher mine until 2029.
　　Zinc Production: In 2015, zinc production reached 478,200 tons; for 2016, production is expected to be around 280,000 tons. The Mount Isa mine assets primarily include the George Fisher, Black Star, and Lady Loretta mines. Among these, the Lady Loretta mine has been suspended, the Black Star open-pit mine was permanently closed in September of this year, and the George Fisher mine’s expansion project has just been completed; however, due to pricing factors, the release of the newly added capacity has been temporarily postponed.
　　5. Penasquito
　　Location: Mexico
　　Company: Goldcorp
　　Reserves: 586.68 million tons; Metal reserves: zinc 4.0306 million tons; Grade: zinc 0.69%; Resource amount: zinc 1.44 million tons.
　　Mine lifespan: 2009–2029
　　Zinc Production: Zinc production in 2015 was 167,400 tons, and estimated zinc production for 2016 is around 107,000 tons. This mine is a large gold mine, with zinc being only one of its byproducts. Over the next three years, the grade of the mining area will remain relatively low, but starting in 2019, the situation is expected to improve gradually.
　　6. San Cristobal
　　Location: Bolivia
　　Affiliated Company: Japan Sumitomo
　　Reserves: 285.3 million tons; Grade: 1.41% zinc, 0.48% lead
　　Mine lifespan: 2007–2024
　　Zinc Production: The plant normally produces 1,300 tons per day of zinc-silver concentrate and 300 tons per day of lead-silver concentrate, with an annual zinc output of approximately 200,000 tons. It is estimated that zinc production in 2016 will be around 180,000 to 200,000 tons.
　　7. McArthur River
　　Location: Australia
　　Company: Glencore
　　Reserves: 102 million tons; Grade: 10% zinc, 4.8% lead; Resource amount: 180 million tons
　　Mine lifespan: The reserve lifespan extends to 2043, while the current production plan is scheduled through 2034.
　　Zinc Production: In 2015, zinc production reached 224,300 tons; for 2016, production is expected to be around 170,000 tons. The capacity from the third-phase expansion project has just been released, but due to price fluctuations and environmental considerations, production is currently operating at a reduced level. Over the lifespan of the third-phase project, the average annual output will be approximately 383,000 tons of zinc and 93,000 tons of lead.
　　8. Cerro Lindo
　　Location: Peru
　　Affiliated Company: Compania Minera Milpo S.A.
　　Reserves: 46.12 million tons; Grade: 2.45% zinc, 0.26% lead; Resource amount: 39.82 million tons
　　Mine lifespan: 2007–2028
　　Zinc Production: Production is expected to remain stable at around 180,000 tons in 2016-17. Mines are currently evaluating an expansion of capacity from 1,800 tons per day to 2,000 tons per day; however, due to the impact of ore grade, future production growth potential is very limited.
　　9. Tara Mines
　　Location: Ireland
　　Company: Boliden
　　Reserves: 17 million tons; Grade: 6.3% zinc, 1.5% lead; Resource amount: 8.7 million tons.
　　Mine lifespan: 1977–2021
　　Zinc Production: Zinc production in 2015 was 133,000 tons; in the first half of 2016, production reached 75,000 tons. Annual production for the full year is expected to be around 150,000 tons.
　　10. Scorpio
　　Location: Namibia
　　Affiliated Company: Vedanta Limited
　　Reserves: 5.1 million tons, zinc grade: 8.77%, resources: 3.1 million tons
　　Mine lifespan: 2001–2019
　　Zinc Production: Zinc production for fiscal year 2015 was 102,200 tons, and projected production for 2016 is 142,000 tons.
　　Although the outlook for zinc ore resources remains less than optimistic, there are still several large-scale lead-zinc mines under construction or awaiting development, including Russia’s Kholodninskoye and Ozernoe lead-zinc mines, Indonesia’s Dairi lead-zinc mine, Algeria’s TalaHamza lead-zinc mine, Australia’s Dugald River mine, and China’s Huo Shao Yun lead-zinc mine. However, overall, the development conditions and resource quality of these mines under construction or slated for development will likely be inferior to those of currently operating or recently closed large-scale zinc mines. In recent years, major new mines that have come into production include Dugald River, Ozernoe, Gamsberg, and Citronen—yet all of these mines began operations after 2018. Next year, there will be virtually no large-scale new mines coming online, meaning the contribution of additional capacity to boosting global zinc production recovery will be very limited. Moreover, over the longer term, zinc supply is likely to continue experiencing fluctuations while remaining generally tight.
 
　　The World’s 10 Largest Molybdenum Mines
　　1. Spence Copper-Molybdenum Mine
　　Country: Chile
　　Ore resource reserves (t): 2,661,400,000
　　Metal quantities: Mo: 2,759,000 t, Cu: 12,723,000 t
　　Grade: Mo: 0.104%, Cu: 0.478%
　　2. Anhui Jinzhai Molybdenum Mine
　　Country: China
　　Ore resource reserves (t): 1,500,000,000
　　Metal content: Mo: 2,270,000 t
　　Grade: Mo: 0.140%
　　3. CUMO Copper-Molybdenum Ore
　　Country: United States
　　Ore resource reserves (t): 5,980,000,000
　　Metal quantities: Mo: 2,153,000 t, Cu: 4,186,000 t, Ag: 415,284,000 oz, W: 60,000 t
　　Grade: Mo: 0.036%, Cu: 0.07%, Ag: 2.16 g/t, W: 0.001%
　　4. San Dao Zhuang Molybdenum Mine, Luanchuan, Henan Province
　　Country: China
　　Ore resource reserves (t): 2,100,000,000
　　Metal quantities: Mo: 2,058,000 t, W: 672,000 t
　　Grade: Mo: 0.098%, W: 0.032%
　　5. Pebble Copper-Molybdenum-Gold Mine
　　Country: United States
　　Ore resource reserves (t): 7,978,300,000
　　Metal quantities: Mo: 1,995,000 t, Cu: 32,392,000 t, Au: 89,778,000 oz
　　Grade: Mo: 0.025%, Cu: 0.406%, Au: 0.35 g/t
　　6. Collahuasi Copper-Molybdenum Mine
　　Country: Uruguay
　　Ore resource reserves (t): 6,800,000,000
　　Metal quantities: Mo: 1,360,000 t, Cu: 54,342,000 t
　　Grade: Mo: 0.02%, Cu: 0.799%
　　7. Quartz Hill Molybdenum Mine
　　Country: United States
　　Ore resource reserves (t): 1,400,000,000
　　Metal quantity: Mo: 1,316,000 t
　　Grade: Mo: 0.094%
　　8. La Caridad Copper-Molybdenum Mine
　　Country: Mexico
　　Ore resource reserves (t): 5,550,712,000
　　Metal quantities: Mo: 1,277,000 t, Cu: 12,378,000 t
　　Grade: Mo: 0.023%, Cu: 0.223%
　　9. Sierrita Copper-Molybdenum Mine
　　Country: United States
　　Ore resource reserves (t): 4,379,000,000
　　Metal quantities: Mo: 1,047,000 t, Cu: 9,271,000 t, Ag: 179,708,000 oz
　　Grade: Mo: 0.024%, Cu: 0.212%, Ag: 1.276 g/t
　　10. Toquepala Copper-Molybdenum Mine
　　Country: Peru
　　Ore resource reserves (t): 6,197,659,000
　　Metal quantities: Mo: 806,000 t, Cu: 19,956,000 t
　　Grade: Mo: 0.013%, Cu: 0.322%
 
　　The World’s Top Ten Nickel Mines
　　1. Taimyr Peninsula
　　Country: Russia
　　Ore resource reserves (t): 2,197,740,000
　　Metal quantities: Ni: 16,853,000 t, Cu: 32,104,000 t, Au: 15,528,000 oz, Pt: 71,838,000 oz, Pd: 263,732,000 oz
　　Grade: Ni: 0.767%, Cu: 1.461%, Au: 0.22 g/t, Pt: 1.017 g/t, Pd: 3.732 g/t
　　2. Pomalaa
　　Country: Indonesia
　　Ore resource reserves (t): 385,300,000
　　Metal quantity: Ni: 6,470,000 t
　　Grade: Ni: 1.679%
　　3. Weda Bay
　　Country: Indonesia
　　Ore resource reserves (t): 423,800,000
　　Metal quantities: Ni: 6,345,000 t, Co: 309,000 t
　　Grade: Ni: 1.497%, Co: 0.073%
　　4. Mogalakwena
　　Country: South Africa
　　Ore resource reserves (t): 3,510,900,000
　　Metal quantities: Ni: 6,320,000 t, Cu: 3,511,000 t, Au: 14,568,000 oz, Pt: 110,397,000 oz, Pd: 130,304,000 oz
　　Grade: Ni: 0.18%, Cu: 0.10%, Au: 0.129 g/t, Pt: 0.978 g/t, Pd: 1.154 g/t
　　5. Dumont
　　Country: Canada
　　Ore resource reserves (t): 4,454,700,000
　　Metal quantities: Ni: 5,555,000 t, Co: 237,000 t, Pt: 218,000 oz, Pd: 436,000 oz
　　Grade: Ni: 0.125%, Co: 0.005%, Pt: 0.002 g/t, Pd: 0.003 g/t
　　6. Jinchuan
　　Country: China
　　Ore resource reserves (t): 520,000,000
　　Metal quantities: Ni: 5,502,000 t, Co: 161,000 t, Cu: 3,427,000 t, Pt: 3,294,000 oz
　　Grade: Ni: 1.058%, Co: 0.031%, Cu: 0.659%, Pt: 0.197 g/t
　　7. Kalgoorlie Nickel
　　Country: Australia
　　Ore resource reserves (t): 743,500,000
　　Metal quantities: Ni: 5,420,000 t, Co: 327,000 t
　　Grade: Ni: 0.729%, Co: 0.044%
　　8. Kola Peninsula
　　Country: Russia
　　Ore resource reserves (t): 831,884,000
　　Metal quantities: Ni: 4,544,000 t, Cu: 2,122,000 t, Au: 267,000 oz, Pt: 572,000 oz, Pd: 1,070,000 oz
　　Grade: Ni: 0.546%, Cu: 0.255%, Au: 0.01 g/t, Pt: 0.021 g/t, Pd: 0.04 g/t
　　9. Southern Samar
　　Country: Philippines
　　Ore resource reserves (t): 300,000,000
　　Metal quantity: Ni: 4,500,000 t
　　Grade: Ni: 1.50%
　　10. Pinares de Mayari
　　Country: Cuba
　　Ore resource reserves (t): 400,000,000
　　Metal quantity: Ni: 4,400,000 t
　　Grade: Ni: 1.10%
 
　　The World’s Top Ten Uranium Mines
　　1. McArthur River uranium mine
　　Located in Canada. Annual production: 7,356 tons; the mine’s proven reserves amount to 241 million pounds.
　　2. Tortkuduk and Myunkum mines
　　Located in Kazakhstan, the mine has an annual production capacity of 4,322 tons, accounting for 8% of the global total. For five consecutive years, its output has exceeded 3,000 tons, making it one of the world’s largest uranium mines.
　　3. Olympic Dam mine
　　Located in Australia. Annual production: 3,351 tons, accounting for 6% of the global total.
　　4. SOMAIR mines
　　Located in Nigeria. Annual output: 2,331 tons
　　5. Budenovskoye 2 mine
　　Located in Kazakhstan. Annual production: 2,081 tons. Annual output accounts for 4% of the global total.
　　6. South Inkai Mine
　　Located in Kazakhstan. Annual production: 2,002 tons.
　　7. Priargunsky mine
　　Located in Russia. Annual production: 1,970 tons.
　　8. Langer Heinrich uranium mine
　　9. Inkai Mine
　　Located in Kazakhstan. Annual production: 1,922 tons. The mine’s proven reserves amount to 45.6 million pounds.
　　10. Central Mynkuduk Mine
　　Located in Kazakhstan. Annual output: 1,790 tons.