Canadian Mining Journal

News

GOLD: Australia reaches record 10.3M oz. in 2018



AUSTRALIA –Australian gold output reaches an all-time record high of 10.3 million oz. in the most recent fiscal year, Canadian output is lagging behind. Figures from www.AustralianMining.com indicate that country has reached 321 tonnes of gold.

Canadian gold nugget.

Meanwhile, Canada’s gold production in 2018 was 193 tonnes, or 6.2 million oz., making it the fifth largest gold producer in the world.

In 2018 all gold producers lagged behind China with its 400 tonnes or 12.9 million oz. That is followed by Australia, Russia (282 tonnes/9.1 million oz.), United States (253 tonnes/8.1 million oz.), Canada, Indonesia (190 tonnes/6.1 million oz.), Peru (155 tonnes/5.0 million oz.), South Africa (124 tonnes/4.0 million oz.), Mexico (122 tonnes/3.9 million oz.), and Ghana (102 tonnes/3.3 million oz.). Click here.

Readers shouldn’t be too discouraged by Canada’s performance. www.Mining-Technology.com predicts that this country will produce 7.6 million oz. by 2023.

Higher gold prices, new gold mines on the horizon and millions of ounces in reserves should keep Canada in the game.