Ranked: Unmined Gold Reserves by Country (2025)
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Key Takeaways
- Russia and Australia each hold an estimated 12,000 tonnes of unmined gold reserves—together representing almost 40% of global totals.
- Just 10 countries account for more than 85% of the world’s untapped gold deposits, valued at over $7 trillion.
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 $1.7 trillion each.
Russia’s largest unmined gold reserves are primarily located in Siberia and the Far East, including major deposits in the Krasnoyarsk and Magadan regions, as well as the Amur and Chukotka districts.
In Australia, most untapped gold lies within Western Australia’s resource-rich belts, particularly the Yilgarn Craton, which hosts many of the country’s biggest existing and undeveloped deposits.
| Rank | Country | Unmined Gold (t) | Value (US$ B) |
|---|---|---|---|
| 1 |  Russia |
12 000 | 1 687 |
| 2 |  Australia |
12 000 | 1 687 |
| 3 |  South Africa |
5 000 | 701 |
| 4 |  Indonesia |
3 800 | 505 |
| 5 |  Canada |
3 200 | 449 |
| 6 |  China |
3 100 | 435 |
| 7 |  United States |
3 000 | 421 |
| 8 |  Peru |
2 500 | 351 |
| 9 |  Brazil |
2 400 | 337 |
| 10 |  Kazakhstan |
2 300 | 323 |
| 11 |  Uzbekistan |
1 800 | 252 |
| 12 |  Mexico |
1 400 | 196 |
| 13 |  Ghana |
1 000 | 140 |
| 14 |  Mali |
800 | 112 |
| 15 |  Colombia |
700 | 98 |
| 16 |  Tanzania |
400 | 56 |
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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