International Journal of Engineering and Information Systems (IJEAIS)   Year: 2021 | Volume: 5 | Issue: 5 | Page No.: 121-131 Modern Technologies of Gold Production Shohruh Rakhmataliev, Khojiakbar Sultonov, Shokhrukh Khojiev, Abdukholiqov Abdusaid Abstract: Gold production in the world by 2029 will grow to 133 million ounces (4136 tons) from 106 million ounces projected at the end of 2020, according to the forecast of Fitch Solutions. According to the report, the annual production growth in this period will be about 2.5%, against 1.2% in 2016-2019. The main growth will come from Russia. Gold production will grow to 15.5 mln ounce (482.1 tonnes) in 2029 from 11.3 mln ounce (351.5 tonnes) in 2020. This translates into an average annual growth rate of 3.7% during 2020-2029. As a result, Russia will overtake China as the largest gold producer, accounting for 11.6% of global production by 2029, up from 10.6% in 2020. On the other hand, China's gold production is expected to remain roughly flat over the next 10 years with a CAGR of 0.2%, a marked slowdown from the 3.1% CAGR over the previous decade. Fitch's review says this is the result of stricter environmental regulations. At the same time, large Chinese firms will increase investment in foreign gold projects, as the growth in demand for gold in the country far exceeds the growth in production. Australia will see moderate production growth in the coming years, supported by a strong portfolio of projects, rising gold prices and competitive operating costs. Continental production is projected to grow from 11.7 mln ounce in 2020 to 14.2 mln ounce by 2029, averaging 2.2% annual growth.