According to a report by Mining.com, statistics from Surbiton Associates show that in fiscal year 2023/24, Australia—the world’s second-largest gold producer—produced slightly less gold than in the previous fiscal year, despite a 7% increase in output during the second quarter.
　　According to statistics from Siberton United, in the 2023/24 fiscal year, Australia’s gold production totaled 297 tons, a decrease of 10 tons compared to the 2022/23 fiscal year, with a total output value of A$30 billion.
　　In the second quarter of 2024, Australia’s gold production reached 75 tons, an increase of 5 tons from the previous quarter, primarily due to the impact of heavy rainfall in the first quarter, which disrupted production.
　　“When prices were high, some mines lowered the grade of ore they processed and began blending in lower-grade ore from their inventories,” said Sandra Close, the company’s executive. “This allowed them to make better use of existing resources and extend the life of the mine. Although profits were somewhat affected, the mine’s lifespan was extended.”
　　Another strategy is to process high-grade ore to achieve greater profits, even if some gold mines cannot be mined again, Cruz said. “Right now, the dollar is worth more than its future value,” she cautioned.
　　This fiscal year, Newmont was Australia’s largest gold producer. The Boddington gold mine near Perth in Western Australia produced 626,000 ounces of gold, the Cadia gold mine, located 260 kilometers west of Sydney, produced 458,700 ounces, and the Tanami gold mine in the Northern Territory produced 448,000 ounces.
　　Northern Star Resources’ production at the Kalgoorlie Consolidated Gold Mines, also known as the “Super Pit,” located 600 kilometers east of Perth, totaled 449,000 ounces.
　　AngloGold Ashanti and Regis Resources have produced 428,000 ounces of gold from the Tropicana gold mine, located 1,000 kilometers east of Perth.