The country with the most gold deposits in the ground (known mine reserves) is generally reported as a tie between Australia and Russia, each with an estimated 12,000 metric tons of gold mine reserves as of 2024.

Quick Scoop

When people ask “which country has the most gold deposits,” they usually mean underground gold mine reserves , not the gold bars held by central banks.

  • Australia and Russia each have about 12,000 metric tons of gold mine reserves, putting them jointly at the top.
  • South Africa follows with around 5,000 metric tons of gold mine reserves, also making it a major gold-deposit country.
  • In total, global identified gold mine reserves are around 64,000 metric tons, so Australia and Russia together account for more than a third of known reserves.

In simple terms: if you’re talking about gold still in the ground, Australia and Russia are currently the big holders of gold deposits, with South Africa not far behind in the global rankings.

TL;DR: For “which country has the most gold deposits,” current data points to Australia and Russia sharing the top spot, each with roughly 12,000 metric tons of gold mine reserves.

Information gathered from public forums or data available on the internet and portrayed here.