Ranked: Unmined Gold Reserves by Country (2025)

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With gold trading above $4,000 per troy ounce, the largest unmined reserves indicate which countries could drive the next phase of global production.

This visualization ranks nations by their estimated economically recoverable gold deposits, offering a snapshot of where future mining investment might concentrate.

The data for this graphic comes from the U.S. Geological Survey (January 2025). It estimates total unmined gold reserves, expressed in metric tons and valued using a gold price of $4,362 per troy ounce.

Russia and Australia Dominate Global Gold Reserves

Russia and Australia are tied as the world’s top holders of unmined gold, each with around 12,000 tonnes. Together, they account for reserves valued at $1.7 trillion each.

Russia’s largest unmined gold reserves are primarily located in Siberia and the Far East, including major deposits in the Krasnoyarsk and Magadan regions, as well as the Amur and Chukotka districts.

In Australia, most untapped gold lies within Western Australia’s resource-rich belts, particularly the Yilgarn Craton, which hosts many of the country’s biggest existing and undeveloped deposits.

Emerging Markets Show Strong Potential

Countries like Indonesia, Peru, and Brazil stand out among emerging economies. Indonesia’s 3,800 tonnes place it fourth globally, while Peru and Brazil each hold between 2,400 and 2,500 tonnes.

These regions could see significant investment as global demand shifts toward diversified supply chains and lower-cost extraction opportunities.

The United States and China, both major producers, still hold substantial unmined reserves, around 3,000 tonnes each. Yet much of the world’s new exploration is taking place in Africa, in countries such as Ghana, Mali, and Tanzania. Within the continent, South Africa leads our ranking with 5,000 metric tons of reserves.

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How Much Control China Has Over the World’s Critical Minerals

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China sits at the center of today’s global mineral supply chains. From electric vehicles to semiconductors, many of the technologies driving modern industry depend on critical minerals that are mined, refined, or controlled by China.

This visualization highlights just how concentrated global mineral production has become.  The data for this graphic comes from White & Case LLP. It charts the top global producers for 27 key critical minerals, as of December 2024.

China’s Commanding Share

China dominates the production of at least 15 critical minerals or mineral groups listed, including gallium (98.7%), magnesium (95%), tungsten (82.7%), and rare earths (69.2%). These materials are vital for clean energy, defense, and electronics.

In addition to being the leading producer, the country also controls much of the refining capacity for many of these minerals. For example, around 90% of rare earths are refined in China.

This monopoly has become a major concern for other nations, with the Trump administration currently pushing for increased domestic production of these materials.

Regional Specializations Beyond China

While China’s dominance is unparalleled, a few other nations play essential roles. Brazil accounts for nearly 91% of global niobium production, a mineral critical for high-strength steel used in pipelines and jet engines.

The Democratic Republic of Congo holds 75.9% of cobalt and 41.9% of tantalum production—both indispensable for batteries and microelectronics.

South Africa is another heavyweight, supplying 70.6% of the world’s platinum and nearly half of all chromium.

Western Efforts to Rebalance Supply Chains

Australia, the United States, and other Western nations have sought to diversify production and reduce dependence on Chinese materials.

Australia now leads global lithium output with 36.7%, helping anchor non-Chinese EV supply chains. Meanwhile, the U.S. remains the world’s largest beryllium producer, accounting for half of total global supply. Still, overall Chinese dependency remains high.

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