Australia gold output holds near decade average - The Northern Miner

AI desk brief

Australian gold output held near its decade average at 303 tonnes in the year to June, up 4 tonnes year on year, with June-quarter production rising to 76 tonnes even after Newmont’s Cadia was hit by seismic disruption. Surbiton said output would have been almost 2 tonnes higher if Cadia had matched its March-quarter level, while larger producers such as Boddington, Tropicana and the Super Pit all contributed to the steady national tally.

The article also flags a growing copper-credit effect for Australian gold miners: Evolution’s Northparkes posted a negative AISC of A$10,696/oz thanks to by-product copper, with copper prices up about 46% over the past year to $6.72/lb. Northern Star’s Super Pit expansion to 27Mtpa is already underway, pointing to a larger production cycle ahead.