Mining-mill.com have recently identified the top 4 largest gold mine in Asia. The mine is also in the list of Top 10 largest gold mine in the world. Check the details below.
1. Grasberg mine in Papua, Indonesia
Grasberg mine is the largest Gold mine in term of deposit. The first at our Top 4 largest gold mine in Asia. Owned by Freeport McMoRan with a large sharing arrangement with Rio Tinto. Operated by the subsidiary PT. Freeport Indonesia mining company, this gold mine contains a deposit of over 106.2mn ounces of gold.
Grasberg is an open mine, rich with copper and gold. Combine with large underground mine in the complex area. The mine life of open pit mining is due to close in few next year. even though the Grasberg mine complex is still available to mining through underground mining. When they underground mine fully operated, it is expected to be the world largest underground mine.
In 2016, the mine produced more than one million ounces of gold, making it the fourth largest gold producer that year. The gold deposits on Mount Carstensz were first discovered by a Dutch geologist in 1936. After a new era in Indonesia, following the implementation of foreign investment laws in 1967, with the Grasberg mine opened officially in 1973.
In February 2017, however, Freeport McMoRan announced that it was temporarily halting mining operations at Grasberg – which is also the third largest copper mine in the world – following a failure to reach an agreement with the Indonesian government on long-term investment plans. Until now they are still negotiating with Indonesian government to take over 51% of share to Indonesian government.
2. Lihir mine on Niolam Island, Papua New Guinea
The second at Top 4 largest gold mine in Asia is Lihir mine. The Lihir operation on Aniolam Island in the New Ireland Province of Papua New Guinea (PNG), 900 kilometres north-east of Port Moresby, is 100 per cent owned and operated by Lihir Gold Limited (LGL) mining company. Uniquely the mine is inside an extinct volcano crater. Lihir is projected to contain 64.1mn ounces of gold and gold production at this expansive open pit mine started in 1997. Newcrest mining company acquired the Lihir operation as a result of the merger with LGL by court-approved scheme of arrangement in August 2010. An Australian company that acquired it for US$22bn in 2010.
In summary Lihir mine produced over 900,000 ounces of gold in fiscal year 2016, making it the sixth biggest gold producing mine in the world. The mine has had a total output of over 10mn ounces since production began 20 years ago.
3. Muruntau in Kyzyl Kum Desert, Uzbekistan
The third largest gold mine in the world by deposit size, with approximately 50mn ounces of gold, Muruntau is also the biggest open-pit gold mine in the world. This sizeable mine is owned by the government of Uzbekistan after they withdraw the Newmont mining company. After the giant gold deposit was found in 1958, the mining shortly start in 1967 until now. With approximately 2.2mn ounces of gold produced last year, Muruntau ranks as the world’s largest gold producing mine, although these figures are clouded slightly by the less transparent Uzbek government’s reluctance to share information.
4. Oyu Tolgoi mine in the South Gobi Desert, Mongolia
The fourth at Top 4 largest gold mine in Asia is Oyu Tolgoi mine. The mine located approximately 550 kilometres south of the capital, Ulaanbaatar. Oyu Tolgoi is close to China, only 80 kilometres north of the Mongolia-China border. The mine is joint company by Turquoise Hill (a Rio Tinto subsidiary) and the Mongolian government. Oyu Tolgoi is expectable to contain 46.3mn ounces of gold. Oyu Tolgoi is one of the most recently-developed gold mines on this list. The deposits were discovered in 2001, and construction on the mine began in 2010; the first shipment which start the commercial status came in 2013. Rio Tinto has also been the manager of the Oyu Tolgoi project.
While Oyu Tolgoi’s gold deposits are impressive, its copper deposits are significantly larger at not less than 40bn pounds. In summary, Gold production reached 300,000 ounces in 2016. Turquoise Hill projecting a smaller output of between 100,000 and 140,000 ounces in 2017.
While exploration continues, even with the reserves currently identified, Oyu Tolgoi is expectable to operate for over 50 years.