Australia’s gold production increased 10% year-on-year in the 2011 financial year, as new operations came into production and old mines were reopened on the back of soaring bullion prices, Surbiton Associates director Dr Sandra Close reported.

In its latest quarterly production figures, Surbiton stated that Australian gold production for the three months to June had increased by 5% to 68 t, or 2.1-million ounces, compared with the 65 t produced in the previous quarter.

Gold output for the full year totalled 270 t, an increase of 24 t on the previous financial year. [Read more...]