Top 6 Companies Dominating the Global Precious Metal Market Landscape

The global precious metal market reached a volume of about 44.70 KMT in 2023. The market is projected to grow at a CAGR of 4.2% in the forecast period of 2024-2032 to reach around 65.02 KMT by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rising application of precious metals in end-use sectors.

Precious metal such as gold finds application in the jewellery sector as gold has been an integral part of marriages in marriages in countries such as India, Saudi Arabia, UAE, China, and others. In 2022, China accounted for around 10% of total global gold production. Similarly, silver is used extensively in jewellery as well as in electronics sector.

The market for honey is also being fuelled by the abundance of precious metals in China, Australia, Chile, South Africa, and other countries. China has natural resources estimated to be worth USD 23 trillion and the highest reserves of rare earth minerals at 44 million MT.

The growing adoption of renewable energy sources such as solar and wind further expands the market demand for silver and rhodium, as silicon solar cells have a conductive layer on both the front and the back made of pasted silver and have extensive applications in the photovoltaic sector.

Top 6 Precious Metal Companies in the World:

Anglo American Plc

Anglo American is a global leading mining company with a portfolio that spans diamonds, platinum, copper, iron ore, silver, and other precious metals. With around 40% of global production, it is the world's greatest producer of platinum and a significant producer of diamonds, copper, nickel, polyhalite, and coal. The company is employing advanced technology named FutureSmart Mining™ to achieve sustainable mining practices.

Southern Copper Corporation

Southern Copper Corporation is a subsidiary of Grupo Mexico S.A.B. de C.V. (“Grupo Mexico”) with 88.91% of capital stock. SCC conducts operations in Peru through a registered branch (the “SPCC Peru Branch,"  "Branch,” or “Peruvian Branch”). The company upholds the highest social and environmental standards in its operations and is certified with ISO 14001, ISO 45001, and ISO 9001. In 2022, Grupo Mexico (its parent company) invested USD 197.4 million for sustainable development.

Newmont Corporation

Newmont is the world’s leading gold company and a significant producer of copper, silver, zinc, and lead. Since Newmont is the only gold producer included in the S&P 500 Index, it has gained widespread recognition for its ethical approaches to governance, social responsibility, and the environment. Papua New Guinea, Africa, Australia, Latin America and Caribbean, and North America are favourable mining countries that form the foundation of the company's portfolio of assets, prospects, and talent.

Northam Platinum Holdings Limited

Northam is a self-governing, integrated manufacturer of platinum group metal ores (PGMs). The company’s plan is to lower operational risk while increasing production to manufacture one million ounces of precious metals each year.

Newcrest Mining Limited

Newcrest is one of the largest gold mining businesses in the world, and the biggest producer of gold listed on the Australian Securities Exchange. By implementing sustainable mining practices, the company has established itself as a prominent market leader in innovation and has increased operational efficiency by 20%. Its operating mines are located in Australia, Canada, and Papua New Guinea.

Kinross Gold Corporation

Kinross Gold is a leading gold mining company with a diverse portfolio of mines and projects in the United States, Canada, Brazil, Chile, and Mauritania. The company's main goals are to create value through responsible mining, balanced sheet strength, controlled growth, and operational excellence. The company consistently invests in technological advancements to enhance mining productivity and minimize environmental impact.