Australia Records Highest Annual Gold Output in a Decade

Bloomberg reported that in 2013, Australia’s gold output climbed to 273 metric tons (MT), up 18 MT from the previous year. That is the country’s highest yearly production since 2003.

As quoted in the market news:

‘Producers are responding to lower gold prices by treating less low grade material and this results in higher output and reduced costs,’ Sandra Close, a director at Surbiton, said in the statement. ‘The downside in processing higher-grade ore is that some lower grade material that was economic to treat at higher prices, is no longer profitable.’

Click here to read the full Bloomberg report.

Click here to see a list of 2012′s top 10 gold-producing countries.