High gold price drives production to record level

Original article by Paul Garvey
The Australian – Page: 19 : 4-Mar-19

Data from Surbiton Associates shows that Australia’s gold production rose to a record 317 tonnes in 2018. Based on the average spot price for the year, the record output was worth some $17bn. The previous annual production record was 314.5 tonnes in 1997, while output had reached an all-time low of just 220 tonnes in 2008. Surbiton director Sandra Close notes that Australian-listed producers ramped up their gold hedging in 2018, particularly in the final quarter.

CORPORATES
SURBITON ASSOCIATES PTY LTD, GOLD FIELDS LIMITED, GOLD ROAD RESOURCES LIMITED – ASX GOR, KIRKLAND LAKE GOLD LIMITED – ASX KLA, NEWMONT MINING CORPORATION, BARRICK GOLD CORPORATION

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