05 Dec 2021
DiamondWorld Directory
-
Home |
News
Home
Australian gold output on a decline
Lack of exploration expenditure in the sector
By: Diamond World News Service
|
Sep 5 2006 12:00AM
|
Reference: 644  

DecreaseIncrease

MELBOURNE based Surbiton Associates, one of Australia’s leading followers of the gold sector, have pointed out that output from one of the world’s largest gold producers at 251 tonnes is currently at its lowest level achieved during any financial year in the past decade. Australian gold production peaked as far back as 1998, and while there have been occasional quarterly increases between then and now, the overall production trend has been steadily downwards.

The decline is attributed to a continuing lack of exploration expenditure in the sector in favour of the search for other metals and minerals. Most of the new production which is coming on stream, but failing to make up for reserve depletion, is through re-opening of old mines and old projects long in the pipeline as well as plant expansions brought on by the current high gold price. In other words some of this is a short term gain which could just as easily evaporate if the gold price falls back.

Indeed, the main reason Australian production managed to remain within 5% of the previous 2004/2005 financial year was due to the opening of Barrick’s Cowal mine and much improved production at Newcrest’s Telfer operation (Australia’s largest producer in the June quarter) and AngloGold Ashanti’s Sunrise Dam. Clearly gold exploration Australia needs a shot in the arm if gold output is to climb back to its peak.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Search News by City
Recent Issue
2021
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 30167
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 6634
GJEPC Chairman Interview
Views: 26425
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 36336
Promo for IJ Awards 2012 at NDTV Profit
Views: 50279
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 63660
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 20387
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 48277
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 47429
Advertisement
GIA 2021
Advertisement
DW Whatsapp Sub sq
Member of:
Supporter of: