How Much Gold Is Left in the Ground?
The US Geological Survey estimates that 66,000 tonnes of gold can be mined profitably from known deposits: its world reserves figure (MCS 2026). At the 2025 rate of 3,300 tonnes a year that is about 20 years of output. The World Gold Council counts 61,000 t of reserves and 114,400 t of wider resources. That does not mean gold runs out around 2046: in 1996 the USGS put reserves at 44,000 t, and since then the world has mined 84,000 t, 1.9 times as much, yet reserves are higher today. Australia has the largest reserves (13,000 t).
Gold reserves by country
tonnes, MCS 2026Reserves: deposits that can be mined at a profit with today's prices and methods. Reserves for Australia, Brazil, China, Peru and 'Other countries' were revised based on company and Government reports. Australia JORC-compliant reserves were 4,500 t. "Other countries" together: 11,000 t.
Reserves by Country and Years of Output Left
Reserves divided by the country's 2025 mine output: how long they would last at that pace if no new reserves were found.
| Country | Reserves (t) | Of world | Mined 2025e (t) | Years left |
|---|---|---|---|---|
| 1. Australia | 13,000 | 19.7% | 280 | 46 |
| 2. Russia | 12,000 | 18.2% | 310 | 39 |
| 3. South Africa | 5,000 | 7.6% | 90 | 56 |
| 4. Indonesia | 3,600 | 5.5% | 90 | 40 |
| 5. Canada | 3,200 | 4.8% | 200 | 16 |
| 6. China | 3,200 | 4.8% | 380 | 8 |
| 7. United States | 3,000 | 4.5% | 160 | 19 |
| 8. Brazil | 2,500 | 3.8% | 80 | 31 |
| 9. Kazakhstan | 2,300 | 3.5% | 130 | 18 |
| 10. Peru | 2,200 | 3.3% | 110 | 20 |
| 11. Uzbekistan | 2,200 | 3.3% | 130 | 17 |
| 12. Mexico | 1,400 | 2.1% | 140 | 10 |
| 13. Ghana | 1,000 | 1.5% | 150 | 7 |
| Other countries | 11,000 | 16.7% | 1,000 | — |
| World | 66,000 | 100% | 3,300 | 20 |
USGS, Mineral Commodity Summaries 2026 (Gold), published 6 February 2026. Years left: our calculation. Countries' reporting rules differ (Australia's figure under the stricter JORC code is much lower).
The Reserves That Never Run Out
World reserves in past editions of the USGS survey, against the gold mined since.
Bars are USGS editions (only the years we have; older editions left out China and some other countries).
| Edition | Reserves (t) | Output the year before | Years of output |
|---|---|---|---|
| 2026 | 66,000 | 3,300 (2025) | 20 |
| 2025 | 64,000 | 3,300 (2024) | 19 |
| 2024 | 59,000 | 3,000 (2023) | 20 |
| 2023 | 52,000 | 3,100 (2022) | 17 |
| 2019 | 54,000 | 3,260 (2018) | 17 |
| 2009 | 47,000 | 2,330 (2008) | 20 |
| 2006 | 42,000 | 2,450 (2005) | 17 |
| 2004 | 43,000 | 2,600 (2003) | 17 |
| 1998 | 45,000 | 2,300 (1997) | 20 |
| 1996 | 44,000 | 2,200 (1995) | 20 |
Reserves are not a fixed stock waiting to be used up. They are an inventory that mining companies keep topping up: higher prices turn lower-grade rock into ore worth mining, exploration finds new deposits, and better methods make old ones pay. So for 30 years gold reserves have stayed at roughly 17–20 years of output, while the world mined 1.9 times the reserves first counted in 1996.
What would end gold mining is not running out of gold but rising cost: ore grades have fallen for decades, and new large discoveries have become rare, with the big finds of recent years mostly extensions of known deposits. That is the case made by "peak gold" arguments; world output has been around 3,000–3,300 tonnes a year since 2015. Beyond reserves lie much larger resources; the USGS gives no world total, but in the US alone it estimates 33,000 t in identified and undiscovered resources. There is also about 14,000 t of gold dissolved in seawater, too thinly spread to recover.
Gold supply
How Much Gold Is Left in the Ground? FAQ
How much gold is left in the world?
About 66,000 tonnes in known reserves that can be mined profitably today, according to the US Geological Survey (MCS 2026); the World Gold Council estimates 61,000 t of reserves and 114,400 t of resources. That is roughly 20 years of mining at the 2025 rate.
Will we run out of gold?
Not on any foreseeable timetable. Reserves have equalled about 15–25 years of output for decades because they are replenished as fast as they are mined. What could change is cost: lower grades and deeper mines make each ounce more expensive. Meanwhile almost all the gold already mined still exists and is recycled.
Which country has the most gold reserves?
Australia, with about 13,000 tonnes (20% of the world total), followed by Russia (12,000 t) and South Africa (5,000 t).
What is the difference between reserves and resources?
Reserves are the part of a deposit that has been measured in detail and can be mined at a profit with today's prices and methods. Resources are everything that is known or estimated to exist, including deposits too low-grade, deep or remote to mine now. Resources are much larger, and some become reserves when prices rise.
How much gold is still in the ground compared with what has been mined?
Known reserves (66,000 t) are about 29% of the gold already mined (224,200 t). In other words, about 24% of all the gold we know of is still underground.
Sources: U.S. Geological Survey (Data Series 140, Mineral Commodity Summaries 1996–2026, Open-File Reports; public domain); World Gold Council (above-ground stocks and below-ground figures, quoted); Annual Report of the Director of the US Mint, 1900. Running totals, shares, years of output, cube sizes and dollar values are Corgano's calculations; dollar values use the live gold price. Researched November 2026.
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@misc{corgano2026howmuchgoldis, author = {{Corgano}}, title = {How Much Gold Is Left in the Ground?}, howpublished = {\url{https://goldprice.corgano.com/how-much-gold-is-left}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-04}}