Gold production in Australia fell by 10 tonnes or more than 12 % for the March quarter. This is compared to the previous December quarter which was a record quarter, as Surbiton Associates released their latest gold production figures for the March quarter.
The Newcrest Cadia East mine near Orange in New South Wales, kept the mantle as the leading producer in Australia. Cadia produced 195,181oz in the March quarter. Kirkland Lake Gold’s Fosterville Mine was the next best producer with 158,84oz, followed by Western Australia’s Newmont GoldCorp’s Boddington mine which was down 54,000 oz on the previous quarter to 142,000oz. Saracen/Northern Star JV Kalgoorlie Super Pit reported its first full quarter figures under new ownership and produced 117,127oz up around 3000oz. Newmont Goldcorp’s Tanami rounding out the top five produced 116,000oz.
In summarising the reduction on this report, Dr Sandra Close, a director of Surbiton Associates said “The reduction in output is no cause for alarm, it is no great surprise that the March quarter 2020 gold production is down,” said Dr Close “I think record Australian dollar gold prices were a significant contributing factor.”
There were some reports of increased production and that included at Beta Hunt. The Beta Hunt mine is the home of the famous Fathers Day vein discovered in 2018, The RNC Minerals mine was up 12,400 ounces. While Mt Carlton, Qld (Evolution Mining), is up 4,200oz.