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Australia's gold output at decade high as miners cash in on currency drop

Published Sun, Mar 1, 2015 · 09:50 PM
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Sydney

AUSTRALIA recorded its highest annual rate of gold production in a decade in 2014, accelerating the depletion of high-grade mine reserves, a survey released on Sunday said.

Gold output in Australia, the second highest producing nation after China, rose to 284 tonnes in 2014, up 11 tonnes or 4 per cent on 2013, mining consultants Surbiton Associates Pty said in its latest survey of Australian gold mining. This is the highest annual figure tallied by Surbiton since 2003.

Output for the fourth quarter 2014 reached 73 tonnes, up three tonnes on the previous quarter, according to Surbiton. "Superficially, the figures give the impression of a healthy and vibrant industry but you need to dig a little deeper to get the whole picture. It's not all good news," said Sandra Close…

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