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June 1, 2020

#Australia's #Gold production down. Low-grading due to record $AUD prices contributes to fall

Australia's gold production fell by 12% in the March quarter, according to industry data compiled by Surbiton Associates 

  • Many operators are taking advantage of the extraordinary rise in Australian dollar gold prices through 2019 and early 2020.
  • The Australian dollar gold price rose 30% year-on-year to average A$2,410 an ounce in the March quarter.
  • "The March quarter 2020 saw a sector-wide reduction in both grade treated and tonnes treated, compared with the previous quarter and also there one less day in the period."
  • COVID-19 pandemic has had a minimal impact on Australian gold output, according to report. 

See the whole article here: Australia's Gold production down - Mining Journal

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