| Australian gold production totaled 9.1 million ounces in 2013-2014, up 9% from 2012-2013 output and worth some A$12.5 billion at the current spot price, said Melbourne-based Surbiton Associates. Production for the June 2014 quarter was also up as Australia’s gold output totaled 71 tonnes (2.3 million oz) compared to 67 tonnes in the June 2013 quarter.
“Don’t be fooled by the good news of higher gold output,” said Dr. Sandra Close, Surbiton Associates’ director. “While some new operations have opened, others have closed, so the majority of the rise is due to an overall increase in ore grades as the industry responds to harder times.”..............................................Full Article: Source
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