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Gold
Bid : 3,626.79/oz
Ask : 3,637.67/oz
Silver
Bid : 43.30/oz
Ask: 43.43/oz
Platinum
Bid: 1,510.56/oz
Ask : 1,549.83/oz
Refresh in 00:00

The Best ASX Gold Stocks in Australia For 2023

October 9, 2023

There are few sectors as compelling for risk-averse investors as gold mining. As both a commodity and an industry, gold enjoys important defensive properties that have underpinned its role as a dependable store of value for millennia. In recent years, gold prices have risen substantially due to widespread economic uncertainties and inflation pressures globally. For Australian investors seeking quality exposure to the golden elements' enduring appeal, the country's domestic exchange offers convenient avenues by listing preeminent gold mining stocks. 

This post examines some of the foremost gold producers listed on the Australian Securities Exchange, commonly called the ASX, which have transformed into staple holdings for resource-focused portfolios. Covered here are brief analyses of the top 5 ASX gold mining companies by production and reserve size, outlining their flagship operations, financial strengths, and what makes each a standout long-term investment in the gold mining space.

ASX gold miner's stocks Explained

The Australian Securities Exchange, known as the ASX, is home to some of the world's top gold mining stocks. Gold companies listed on the ASX, referred to as ASX gold miners stocks, have historically offered opportune prospects for investors seeking exposure to the lucrative precious metals industry. With Australia being the world's second-largest producer of gold overall in 2022, the best ASX gold stocks such as Newcrest Mining (ASX: NCM) have emerged as appealing options for mining stock picking. 

The country's large gold reserves paired with an industry-friendly business environment continue to attract foreign investment into Australian gold mining stocks. Some of the most noteworthy gold mining stocks in Australia include companies exploring gold in prolific regions like Western Australia, with heavy hitters like Northern Star Resources (ASX: NST) operating Tier-1 gold mines across the state.

The dark, narrow tunnel of the old mine, filled with shadows and mystery

Top ASX Gold Mining Companies in Australia

Centered around wealth-generating gold deposits, several ASX-listed gold miners have cemented strong positions among the premium gold stocks in Australia. Leading the pack is Newcrest Mining (ASX: NCM), the largest gold mining company by market capitalization on the ASX. Newcrest boasts a global portfolio of low-cost gold operations, exploration opportunities, and project pipelines. This includes the Cadia mine in New South Wales responsible for over a decade of +1 million ounce annual gold production. 

Another giant in the Australian gold mining stocks arena is Northern Star Resources (ASX: NST), the owner of Kalgoorlie's Super Pit and numerous established mines that have yielded billions of dollars in revenue. Additional notable gold mining stocks Australia operators setting the standard in the Australian gold mining industry include Evolution Mining (ASX: EVN) with long-life, high-margin assets across key gold districts.

Newcrest Mining (ASX: NCM)

One of the largest gold miners on the ASX and globally is Newcrest Mining (ASX: NCM). As the top producer by reserve base in Australia, Newcrest owns and operates some of the world's best gold mines. This includes its flagship Cadia mine located in New South Wales, one of the largest gold-copper mines in the world responsible for over a decade of over one million ounces of annual gold production. 

Newcrest's global portfolio also features the Lihir gold mine in Papua New Guinea, another Tier 1 asset that holds over 10 million ounces in gold reserves. Through a combination of organic growth initiatives and strategic acquisitions, Newcrest continues delivering consistent production and strong profitability from its diversified operating assets and projects.

Evolution Mining (ASX: EVN)

One of the fastest-growing gold producers with a superior portfolio of long-life, diversified assets is Evolution Mining (ASX: EVN). By maintaining strong fiscal discipline and strategic mine optimization, Evolution has developed into a leading mid-tier ASX gold mining stock, comparable to investment giants like Newcrest Mining (ASX: NCM). Its premier gold operations span Cowal in New South Wales, Mt Carlton and Mt Rawdon in Queensland, and Ernest Henry and Cracow in Queensland, which is a testament to Evolution's exploration and development prowess. 

Throughout 2022, Evolution Mining (ASX: EVN) kept delivering substantial free cash flows and high margins from these tier-one gold mines. The assets are scheduled to combine for over 900,000 ounces of production in the coming years. Such impressive production growth and handsome returns have Evolution Mining (ASX: EVN) firmly placed as one of the best gold stocks Australia for investors in the current price environment.

A massive heap of rocks, forming a towering pile

SSR Mining (ASX: SSR)

Another force to be reckoned with in the Australian gold mining sphere is SSR Mining (ASX: SSR). Via strategic acquisitions transforming into a multi-asset, geographically diversified precious metals producer, SSR Mining (ASX: SSR) has grown into one of the largest ASX-listed gold stocks by market capitalization. 

Its high-quality portfolio includes the Wasamac and Marigold mines in Canada and Nevada respectively in addition to interests in the C? Ortega copper-gold porphyry project in Colombia. This broad production profile from world-class operations delivers over 500,000 ounces of annual gold equivalent output to SSR Mining (ASX: SSR). Such a robust production pipeline together with improving cash flows places SSR Mining (ASX: SSR) as a sound investment proposition for the long haul among gold mining stocks in Australia.

Perseus Mining (ASX:PRU)

Rounding out the premier list of gold mining companies on the ASX is Perseus Mining (ASX: PRU). Through the development of low-cost gold operations on three continents, Perseus has emerged as a standout mid-tier gold miner. Its flagship mines include the Edikan Gold Mine in Ghana and the Sissingué Gold Mine in Côte d'Ivoire, both of which have seen expansions boosting annual gold production above 200,000 ounces. 

Perseus is also advancing its promising Yaouré development project in Côte d'Ivoire. With an enviable portfolio of long-life, high-margin assets in prolific West African gold districts and a robust balance sheet, Perseus presents an attractive investment profile among the best Australian gold mining stocks.

Conclusion

In summary, the Australian Securities Exchange offers compelling opportunities to invest in some of the world’s foremost gold producers through its listing of premium gold mining stocks in Australia. From behemoths like Newcrest Mining (ASX: NCM) to rising stars such as Perseus Mining (ASX: PRU), the top ASX gold miners examined showcase tier-one gold assets, robust production profiles and ample balance sheet strength delivering outstanding returns for shareholders. 

With the auspicious long-term supply and demand fundamentals underpinning gold, these leading Australian gold mining companies such as Evolution Mining (ASX: EVN) and SSR Mining (ASX: SSR) each present low-risk avenues to participate in future upside for the precious metal. For discerning investors seeking quality exposure to gold’s safe-haven investment properties through 2023 and beyond.

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