There are different methods by which gold mining companies are ranked. One is by their annual production, by their cash cost per ounce, that is, how much money it costs them to mine the gold. Since gold prices are the same everywhere, companies with lower costs per ounce make more profit. The most common method lists by market capitalization which considers the total value of capital holdings by that company. Also considered when comparing companies is their market capitalization per ounce of gold equivalent which takes the market value and total reserves and resources for each company as well as the price of gold into consideration. The figures for each company can be used to determine the value the stock market gives to each company's reserves on an ounce to ounce basis. Here we present to you the top 5 mining companies.

According to the World Gold Council primary gold production hit another record in 2017 after nine years of growth in output, although at a much slower pace. Global gold production totalled roughly 105m troy ounces in 2017. The output is up 525 tonnes or nearly 17m ounces since the start of the decade.

1. Barrick Gold - 5.32 MOZ ( Million Ounces)

Barrick Gold Corporation is the largest gold mining company in the world, with its headquarters in Toronto, Ontario, Canada. The company has mining operations in Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, the United States and Zambia. Barrick is the gold mining leader, both in terms of size and low operating costs. Company guidance calls for all-in sustaining costs (AISC) of just $765 to $815 per ounce for 2018. Barrick's output could slide by more than 10% this year. Barrick's gold production peaked at 7.7m ounces in 2010 and 2011.

2. Newmont - 5.27 MOZ

One of the world's largest gold producers with assets or operations on five continents, Newmont is an industry leader in safety & sustainability. Newmont Mining Corporation is based in Greenwood Village, Colorado, USA and is a mining company that traces its roots to the diversified holding company William Boyce Thompson established in 1916. Incorporated in 1921, it has active gold mines in Nevada, Indonesia, and Peru. Holdings include Santa Fe Gold, Battle Mountain Gold, Normandy Mining, Franco-Nevada Corp and Fronteer Gold. Newmont also has many joint venture relationships and is the second largest mining company next to Barrick Gold.

3. AngloGold Ashanti - 3.76 MOZ

AngloGold Ashanti Limited is a global gold mining company. It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation. This Gold company is now a global gold producer with 21 operations on four continents. The company is listed on the New York, Johannesburg, Accra, London and Australian stock exchanges, as well as the Paris and Brussels bourses. As at 1 March 2018, AngloGold Ashanti has 14 mines and 3 projects in ten countries.

4. Kinross Gold - 2.67 MOZ

Kinross Gold overtaking Canadian peer Goldcorp to take the fourth spot as the Vancouver company experiences another year of double digit percentage declines in output. Kinross Gold Corporation is a Canadian-based gold and silver mining company founded in 1993 and headquartered in Toronto, Canada. It currently operates 9 active gold mines and sits pretty as the fourth largest Gold mining company.

5. Goldcorp - 2.57 MOZ

Goldcorp Inc. is a gold production company headquartered in Vancouver, British Columbia, Canada. The company currently has four mines in Canada, two mines in Mexico, and four in Central and South America. Goldcorp, once the world's most valuable listed gold miner during, is in a rebuilding phase with a stated goal of producing 3?4m ounces per year by 2021. Gold corps ranks as the 5th largest Gold mining company next to Kinross Gold.