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Australia Aust mines produce $27bn record gold haul

03:31  28 february  2021
03:31  28 february  2021 Source:   aap.com.au

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Gold mining is a global business with operations on every continent, except Antarctica, and gold is extracted from mines of widely varying types and scale. At a country level, China was the largest producer in the world in 2019 and accounted for around 11 per cent of total global production . Our interactive gold mining map provides a breakdown of the top gold producing countries in the world, which demonstrates the geographical dispersion of gold mining operations and the gold supply.

This is a list of countries by gold production in 2018. Until 2006 South Africa was the world's largest gold producer. In 2007 increasing production from other countries and declining production from South Africa meant that China became the largest producer

Australian gold mines produced a record amount of gold in 2020, as the price of the precious metal reached all-time highs.

Australia is the world's second-largest gold producer, and much of the precious metal is exported. © Mick Tsikas/AAP PHOTOS Australia is the world's second-largest gold producer, and much of the precious metal is exported.

The national gold mine output reached 327 tonnes, worth roughly $27 billion, according to independent industry consultants Surbiton Associates.

The price of gold reached an all-time high of $2,868 per ounce in August last year.

Investors fled to the gold markets in droves due to 2020's market volatility, and Surbiton managing director Sandra Close says the precious metal's role as a safe haven is set to continue.

The South Koreans enslaved in the North's mines

  The South Koreans enslaved in the North's mines A report describes how prisoners of war are used as slave labour to generate money for the regime."When I see slaves shackled and dragged on TV, I see myself," Choi Ki-sun told me. He was one of an estimated 50,000 prisoners seized by North Korea at the end of the Korean War in 1953.

The Northern Californian couple that stumbled upon million worth of rare, mint-condition gold coins buried on their property will likely owe about half the find's value to the IRS whether they sell the gold or not. Frank Willis owns Pioneering Mining Supplies, in Auburn, and has dealt with treasure hunters in the area for many years. He says that the couple are in danger of having their haul taken away if they make their identity public. ‘Why do you think they’re remaining anonymous? It’s the treasure trove laws.

BME blasts another record | Mining News. BME has broken the South African record for the largest electronic detonator blast, after initiating 3 780 detonators in a single blast at a manganese mine near Hotazel in the Northern Cape. BME has pioneered the use of cold emulsion explosives in Africa and innovated a range of electronic Pan African Resources (PAR) has discovered a rich zone within the existing gold -bearing ore body of the New Consort Gold Mine in Mpumalanga. Currently, the New Consort Mine produces approximately 12Koz of gold per year.

"It is likely gold will still be seen as a safe store of value, as it is tangible and you can hold in your hand," she said.

Australia is the world's second-largest gold producer, and much of the precious metal is exported.

Dr Close says the peak prices mean miners are processing more lower-grade rock.

"Although Australian gold production is remaining near record levels, we are seeing a significant overall drop in the grade of ore being treated," she said.

Newcrest Mining's Cadia East operation in NSW produced the most gold in 2020, with 822,478 ounces, followed by Newmont Corp's Boddington in Western Australia at 670,000 ounces.

The overall gold haul for 2020 was 1.5 tonnes more than in 2019, though down slightly on the 12 months to June 2020.

There are several new or recommissioned operations that are expected to enter production in 2021, including Hillgrove in NSW, Kaiser Reef Ltd in Victoria, as well as Banda Mining and Novo Resources in WA.

Giant clam shells worth $3.3 million seized in Philippine raid .
Philippine authorities have seized illegally harvested giant clam shells worth $3.3 million as smugglers turn to the endangered creatures as a substitute for the illicit ivory trade. In one of the biggest operations of its kind in the country, 80 tonnes of the tropical species were discovered in a village on a remote island in the western archipelago of Palawan, officials said Friday. The Philippines is home to most of the world's giant tropicalIn one of the biggest operations of its kind in the country, 80 tonnes of the tropical species were discovered in a village on a remote island in the western archipelago of Palawan, officials said Friday.

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