Signup for our free newsletter:

Australia is World's 2nd Largest Gold Producer

Written By Luke Burgess

Posted March 10, 2010

New data from Melbourne-based Surbiton Associates Pty shows Australian gold output increased 14% in the fourth quarter last year, securing the country’s position as the world’s second-largest producer.

Australian gold production increased to 62 tonnes during the final quarter of 2009. Full-year output climbed 3% to 227 tonnes, Surbiton said.

"The increase in Australian gold output in the December quarter was assisted by the long-awaited opening of the giant, re-developed Boddington operation," said Sandra Close, a director of Surbiton Associates, which pulls the results from Australia’s gold-mining companies to produce its numbers.

China’s output reached 314 tonnes last year, making it the world’s biggest gold producer, the research group said. The U.S. produced 216 tonnes and South Africa 210 tonnes, Surbiton said.

Good Investing,

Luke Burgess
Editor, Wealth Daily