The introduction of mercury (Hg) into the environment by anthropogenic activities has resulted in negative implications for ecosystem functions and human health. Unlike the legacy of huge environmental pollution left by historic gold rushes in several developed countries, gold-rich nations in the developing world are currently witnessing what could qualify as a “new gold rush”, conducted primarily by small-scale mining operators and characterized by the use of metallic Hg (Hg0) in the amalgamation process to extract gold from crude ores. Once introduced into the environment, Hg0 can undergo biogeochemical transformations to produce Hg species such as methyl-Hg, with well-established adverse impacts on living organisms. This review summarizes published data on both historical and recent trends of the use of Hg0 in artisanal gold mining (AGM) on a global scale and emphasizes the impacts of AGM on the environment. To achieve this, we used citations from research conducted in North and South America, Europe, Asia, Africa, Australia, and New Zealand, obtained from several search engines and databases. Our findings show that, in addition to the well-known environmental and human health adverse effects of gold mining with Hg0, gold extraction by the Hg amalgamation technique is boosting the economy in parts of Africa, South America, and Asia. Unfortunately, this appealing aspect of AGM may not be easily halted, pending the creation of alternative employment. Therefore, there is a clear need for the development of safe and affordable gold extraction and purification technologies. Ultimately, the growth of this specific economic sector should be regulated to help protect both the environment and human health. Information compiled in this review should help to (i) improve the mapping of AGM-impacted soil and aquatic systems on a global scale and (ii) stimulate discussions and research on how to take down current barriers to the development and implementation of safe AGM methods.