Mining

Global Gold Ore Market Overview: Trends Shaping Growth to 2029

November 14, 2025 by The Business Research Company

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What Is The Global Market Value Of The Gold Ore Industry In 2025?

The gold ore market has demonstrated significant expansion in recent years. Its size is anticipated to rise from $13.65 billion in 2024 to $14.75 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.0%. The past growth of this market can be attributed to several factors, including gold’s function as a store of value, its extensive use in jewelry and ornamental items, its importance in currency and financial sectors, diverse industrial applications, and its attractiveness for investment and speculative activities.

The gold ore market is anticipated to experience robust expansion in the coming years. Its valuation is projected to reach $21.17 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 9.5%. This projected increase is driven by factors such as ongoing investment interest, the expansion of emerging economies, governmental support, concerns for the environment and ethics, and prevailing global economic circumstances. Key developments during this timeframe are expected to encompass the incorporation of digital solutions, the formation of strategic alliances and consolidations, adherence to governmental rules and standards, substantial infrastructure spending, and overarching global economic patterns.

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Which Major Market Drivers Are Shaping The Future Of The Gold Ore Market?

The heightened demand for gold jewelry has fueled the growth of the gold ore market. Gold jewelry refers to ornaments where gold serves as the primary material. Gold is extracted from gold ores via the gold mining process, and the resulting gold is then transformed into a usable state for creating gold jewelry. For instance, in March 2024, according to a Canada government report, gold generated a production value of $13.2 billion in Canada in 2022, with Ontario and Quebec being the primary contributors, accounting for 72% of the output. That year, Canadian mines produced 204 tonnes of gold, positioning Canada as the fourth-largest gold producer globally. Therefore, the increasing demand for gold jewelry is a significant driver for the gold ore market.

What Are The Major Segment Types Covered In The Gold Ore Market?

The gold ore market covered in this report is segmented –

1) By Mining: Placer Mining; Hardrock Mining; Other Minings

2) By Application: Cupellation Method Refining; Inquartation Method Refining; Miller Chlorination Process Refining; Wohlwill Electrolytic Process Refining; Aqua Regia Process Refining

3) By End-User: Investment; Jewelry; Other End-Users

Subsegments:

1) By Placer Mining: Riverbed Mining; Beach Mining; Hydraulic Mining

2) By Hardrock Mining: Underground Mining; Open-Pit Mining

3) By Other Minings: Byproduct Mining; Artisanal And Small-Scale Mining (ASM)

What Trends Are Redefining The Gold Ore Market Dynamics?

Technological advancements represent a significant trend gaining prominence in the gold ore market. Companies operating within the gold ore market are adopting new technologies to sustain their position. For instance, in October 2022, RG Gold, a Kazakhstan-based gold mining company, launched a processing plant. This plant was designed and constructed in adherence to all international safety and environmental requirements. The new gold processing plant employs CIP (carbon in pulp) technology, which is a process utilized in the extraction of gold from gold ore through the use of activated carbon. Its annual processing capacity is approximately 5 million metrics tons of gold-containing ore.

Which Key Players Are Driving Competition In The Gold Ore Market?

Major companies operating in the gold ore market include Barrick Gold Corporation, Newmont Mining Corporation, AngloGold Ashanti Limited, Kinross Gold Corporation, Newcrest Mining Limited, Gold Fields Limited, Polyus Gold International Limited, Agnico Eagle Mines Limited, Harmony Gold Mining Company Limited, Yamana Gold Inc., Kirkland Lake Gold Inc., Polymetal International plc, Coeur Mining Inc., Gold Reserve Inc., Golden Star Resources Ltd., Royal Gold Inc., Sibanye-Stillwater Limited, Evolution Mining Limited, Northern Star Resources Limited, Alamos Gold Inc., B2Gold Corp., Centerra Gold Inc., Eldorado Gold Corporation, Endeavour Mining Corporation, Equinox Gold Corp., Fortuna Silver Mines Inc., Franco-Nevada Corporation, Hecla Mining Company, Lundin Gold Inc., Osisko Gold Royalties Ltd, Pan American Silver Corp., Pretium Resources Inc., Sandstorm Gold Ltd., Seabridge Gold Inc.

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What Regional Growth Trends Are Shaping The Gold Ore Market Outlook?

Asia-Pacific was the largest region in the gold ore market in 2024. The regions covered in the gold ore market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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