CANBERRA: Despite a marginal downturn in the first quarter of 2016, gold production continues to be a headline act for the Australian export market says a new report. Annual Australian gold production is worth over A$15 billion says the quarterly insight from Melbourne minerals consultants, Surbiton Associates, published yesterday. Although Australian gold output declined slightly in the first three months of 2016, the local gold sector is benefiting from higher prices said Surbiton’s Dr Sandra Close.
Australian gold production totalled 71 tonnes in the latest three month period she said, around 2 per cent lower than the December quarter in 2015. However, compared with the first quarter of 2015, output rose 4 per cent. “Gold production in the March quarter is often lower than the rest of the year,” said Dr Close, citing the cyclone season and fewer working days. Better than usual weather early this year meant Australian gold mines treated more ore in the March quarter than in the previous three months she said.
