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

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.