Australia's Biggest Gold Mines: 2024 Production Rankings & Development Updates

Australia continues to hold a significant position in global gold production, now sharing second place with Russia. When examining the biggest gold mines in Australia, Western Australia emerges as the unquestionable leader, accounting for over 70% of the country’s gold output. In 2023 alone, Western Australia produced 211.22 tonnes compared to just 80.73 tonnes from the rest of Australia combined.

The resurgence of gold prices to historic highs has intensified interest in these major Australian operations. Understanding which are the biggest gold mines in Australia and their production capacity has become crucial for investors tracking this sector. Below is an analysis of the ten largest gold mining operations driving Australia’s position as a global gold powerhouse.

Western Australia’s Mining Belt: Home to the Largest Operations

Western Australia hosts the vast majority of Australia’s biggest gold mines, a distinction earned through favorable geology and investment climate. The Fraser Institute has consistently ranked the state as one of the world’s premier mining jurisdictions. In 2023, gold generated a record AU$20 billion in sales for Western Australia, establishing itself as the state’s second-most valuable commodity after liquefied natural gas.

Within Western Australia, the Pilbara region is experiencing renewed momentum. Covering more than half a million square kilometers, this resource-rich area gained particular attention following 2017’s major discovery by Novo Resources and Artemis Resources. Some geologists have noted striking geological parallels between the Pilbara Craton and South Africa’s Witwatersrand Basin, both sitting atop Archean granite-greenstone basement and hosting numerous small mesothermal gold deposits containing high-grade conglomerate gold.

Boddington stands as a cornerstone Western Australian asset. Newmont’s sole ownership since 2009 has made this open-pit operation a consistent producer. The 2023 output reached 745,000 ounces, though this represented a 7% decline from 2022’s 798,000 ounces due to lower-grade ore processing. The company anticipated production would tighten further in 2024 before recovery beginning in 2026 as pit development progresses.

KCGM (Kalgoorlie Consolidated Gold Mines), operated by Northern Star Resources, represents another Western Australian heavyweight. Located in the legendary Golden Mile once reputed as Earth’s richest square mile, KCGM delivered 449,032 ounces in fiscal 2024. The operation includes the iconic Fimiston open pit—commonly called the Super Pit—alongside the Mount Charlotte underground facility. Northern Star’s AU$1.5 billion expansion launched in mid-2023 targets 900,000 ounces annual production by 2029, marking one of the biggest expansion programs among Australia’s biggest gold mines.

Jundee, also in Western Australia’s Northern Goldfields region, has distinguished itself as a low-cost underground producer. Northern Star’s 2014 acquisition for AU$82.5 million has proven strategic. The asset delivered 280,963 ounces in fiscal 2024, though a processing plant fire temporarily interrupted operations in Q4 2023.

St. Ives, operated by Gold Fields near Kambalda, produced 371,800 ounces in 2023. This multi-pit operation is undergoing significant transformation through a planned 42 MW wind and 35 MW solar microgrid project announced in March 2024, expected operational by late 2025 and targeting 50% emissions reduction by 2030.

Tropicana, co-owned by AngloGold Ashanti (70%) and Regis Resources (30%), spans 3,600 square kilometers across the Yilgarn Craton. The 2023 production totaled 442,887 ounces. Like other Western Australian operations, Tropicana is integrating renewable energy—a 62 megawatt wind and solar facility under construction was expected to commence operations in Q1 2025, reducing annual emissions by approximately 65,000 tonnes.

Eastern Australian Operations: Transition & Adaptation

Cadia Valley in New South Wales represents a significant eastern counterweight to Western Australian operations. Newmont acquired this asset through its November 2023 purchase of Newcrest Mining. Once Australia’s biggest gold mine by production volume, Cadia has experienced declining output in recent years, falling from 843,000 ounces in 2020 to 597,000 ounces in fiscal 2023. This decline reflected planned maintenance and development activities surrounding the PC1-2 project and cave ramp-up operations. Newmont’s 2024 guidance of 370,000 ounces signaled continued softness as the company balances underground development with tailings expansion planning for the next decade.

Cowal, owned by Evolution Mining, also operates in New South Wales near Bland Shire. The asset achieved a record 312,644 ounces in fiscal 2024, benefiting from Stage H pit expansion and early completion of underground development. The mine generated AU$604.9 million in fiscal 2024, with strong production supporting the company’s ability to repay acquisition and expansion capital.

Remote Operations: Australia’s Gold Desert Giants

Tanami, fully owned by Newmont since 2002, operates in the Northern Territory’s remote Tanami Desert on Warlpiri Aboriginal freehold land. The isolation is extreme—270 kilometers from the nearest community of Yuendumu. Despite the remoteness, Tanami produced 448,000 ounces in 2023, though this represented a 7% decline from the prior year. Newmont’s October 2023 announcement of the Tanami Expansion 2 project, with expected commercial production in late 2025, projected mine life extension beyond 2040 and annual production increases of 150,000 to 200,000 ounces for the initial five years.

Specialized & Emerging Operations

Duketon South, operated by Regis Resources in Western Australia’s North Eastern Goldfields, comprises the Garden Well and Rosemont mines with combined 5 million and 7.5 million tonne annual throughput capacities respectively. Fiscal 2024 production declined to 244,455 ounces from 252,672 ounces previously. May 2024’s approved expansion at Garden Well underground and Rosemont extension targets 100,000 to 120,000 ounces of additional annual capacity by fiscal 2027.

Fosterville in Victoria, owned by Agnico Eagle Mines, occupies a special niche as a high-grade, low-cost underground operation. In continuous operation since 1989 with cumulative production exceeding 16 million ounces, Fosterville produced 277,694 ounces in 2023, declining from 338,327 ounces in 2022 due to Swan zone grade depletion. Agnico Eagle’s guidance anticipated further production declines through 2026 before stabilization through Robbins Hill rate increases offsetting zone depletion.

Defining Australia’s Gold Mining Future

Australia’s biggest gold mines collectively demonstrate the sector’s evolution toward sustainability, remote operation excellence, and long-term reserve management. The shift toward renewable energy integration—evident across Tropicana, Jundee, St. Ives, and other operations—reflects industry commitment to emissions reduction. Simultaneously, expansion programs like KCGM’s AU$1.5 billion initiative and Tanami Expansion 2 signal confidence in long-term gold demand and operational viability beyond 2040.

For investors tracking Australia’s resource sector, understanding these biggest gold mines in Australia remains essential, as they collectively represent the foundation of one of the world’s most significant gold-producing nations.