Australia's gold production may rise to record - report

7th March 2018

By: Reuters


Font size: - +

MELBOURNE – Gold output from Australia, the world’s second-largest producer, may rise to a record as a stream of new projects comes on line, Australian mining consultancy Surbiton Associates said on Sunday.

Australian gold miners, among the lowest cost globally, have enjoyed high margins in recent years, boosting output.

Production in 2017 rose by 3 tonnes from the year before to 301 t, equal to about 9.7-million ounces and the highest since 1999, due to a ramp up production at existing mines, said Surbiton in a report.

Given the number of projects coming on stream and with few closures anticipated “it would not be surprising to see another 20 tonnes of production added to last year’s output,” said Sandra Close, director at Surbiton.

“This suggests that Australia’s all-time record annual gold production of 314 t recorded in 1997 might well be exceeded,” she said, without giving a timeframe.

Production in the quarter ending in December 2017 totalled 80 tonnes, up 6 tonnes from the previous quarter, Surbiton said.

Mines that have raised output in Australia include Newcrest Mining’s Cadia Valley; Tropicana, a joint venture by AngloGold and Independence Group; and Super Pit, a joint venture between Newmont Mining and Barrick Gold Corp.

China is the world’s biggest gold producer.

Edited by Reuters


The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?