Location, Location, Location. The U.S. is currently the world’s 3rd largest gold producer behind China and Australia. In 2011 U.S. gold production increased 2.6% to 237 tonnes. Newmont Mining (NEM-NYSE), a $23 billion company, operates 14 open-pit mines and four underground mines in the U.S., producing about 4.7 million ounces of gold in the last 12 months. 80% of all U.S. gold production is coming from Nevada. Waseco is very well located.