Gold production in Australia managed to increase roughly 6% from a year earlier as the price for the precious metal continued to strengthen, a survey released Sunday showed.
The country produced 65 metric tons, or 2.1 million troy ounces, in the first three months of the year, a drop of 7% on the previous quarter but 4 tons more than was produced in the same period last year, Melbourne-based industry consultants Surbiton Associates Pty. Ltd. said.
Close said that two thirds of the country’s gold operations reported lower output compared on quarter, with Johannesburg-based AngloGold Ashanti Ltd.’s (AU) Sunrise Dam operation in Western Australia state one of those severely hit, losing almost 30,000 ounces in production for the period. The World Gold Council last week said the outlook for global demand for gold remains robust, underpinned by Chinese and Indian jewelry demand.
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