Where is world's remaining gold? Top 5 countries that control future of unmined reserves
As of 2025, a small group of countries holds the vast majority of the world's untapped gold, with the top 10 nations accounting for over 85 per cent of global unmined reserves. The following are the top five nations with the largest economically recoverable unmined gold reserves.
5. Canada
Canada holds the fifth spot with 3,200 tonnes of unmined gold valued at $449 billion. Despite holding zero gold in its central bank vaults among all G7 countries, Canada remains a leading global producer. Its production is driven by high prices and a surge in new mine openings, with the majority of unmined reserves located in regions like Ontario, Quebec, and British Columbia, according to a report by the Visual Capitalist.
4. Indonesia
Indonesia holds the fourth-largest unmined reserves, estimated at 3,800 tonnes with a market value of roughly $505 billion. As a prominent emerging economy, Indonesia stands out for its significant potential for new exploration and investment. These large unmined deposits position the country to play an increasingly vital role in global gold supply chains, especially as miners look for diversified and lower-cost extraction opportunities.
3. South Africa
South Africa ranks third in the world with 5,000 tonnes of unmined gold reserves, valued at approximately $701 billion. Despite a long history as a leading global producer, the nation still holds the largest share of untapped gold on the African continent. These reserves remain a critical component of South Africa's economy as global demand for safe-haven assets and reserve diversification continues to drive exploration.
2. Australia
Tied with Russia, Australia also possesses nearly 12,000 tonnes of untapped gold, with a value of $1.687 trillion. Most of these reserves are situated in the resource-rich belts of Western Australia, specifically the Yilgarn Craton, marked as one of the premier mineral provinces in the world. The craton hosts many of the country's largest existing and undeveloped deposits and attracts over half of Australia's total mineral exploration expenditure.
1. Russia
Holding approximately 12,000 tonnes of unmined gold valued at roughly $1.687 trillion, Russia has been tied for the top spot globally. These vast deposits are primarily centred in the resource-rich regions of Siberia and the Far East. Major unexploited reserves are found in the Krasnoyarsk and Magadan regions, as well as the Amur and Chukotka districts, representing a significant pillar of Russia's long-term geopolitical and economic strategy.
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