The World's Largest Gold Mine Is in Indonesia, Its Reserves Reach 106.2 Million Ounces

The world's largest gold mine is indeed highly profitable, which is why the Indonesian government is trying to acquire shares in the company to maximize profits.

The Papuan Regional Government already owns 10 percent of PT Freeport Indonesia's shares. This means the Papuan Regional Government is guaranteed to pocket at least IDR 3 trillion in dividends from PT Freeport Indonesia each year.

BACA JUGA:Indonesia Has Many Gold Mines, Not Just Freeport, Here's a List

Beyond just ownership, Freeport pays substantial taxes to Indonesia.

Freeport Indonesia is said to contribute 1 percent to Indonesia's state budget annually. This is not to mention the dividends it receives from the central government.

Freeport Indonesia's presence should not only benefit the company itself but also benefit many others. Currently, there are approximately 30,000 workers employed at this world's largest mine.

Gold Mining Countries in the World Other Than Indonesia

1. Russia

In ancient times, Siberia was feared by the Russian Empire because of the large number of criminals who would be sent there. It turns out there is a large gold mine in Eastern Siberia, specifically in Krasnoyarsk.

Based on 2012 estimates, the Olimpiada gold mine had gold reserves of 47.5 million ounces and produced 943,000 ounces in 2016.

The Olimpiada gold mine is operated by Polyus, currently owned by Russian billionaire Said Kerimov.

2. Uzbekistan

Uzbekistan is also the country with the largest gold production in Indonesia, with estimated reserves of 50 million ounces.

The Muruntau gold mine is located in the Kyzyl Desert and is owned by the Uzbek government.

This country produced nearly 2.2 million ounces of gold in 2016, but the Uzbek government is reluctant to disclose complete information.

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