Gold Mine Output Posted First Decline Since 2008

SEATTLE (Scrap Monster): The global gold mine production recorded marginal decline in 2019. The production totaled 3,463.7 tonnes during the previous year. The annual gold mine production recorded decline for the first time since 2008. The fourth quarter 2019 mine production, at 889.5 tonnes, was marginally down by approximately 2% when matched with Q4 ’18.

The Russian gold mine production surged higher by 8%, mainly on account of ramp-up of Greenfield sites including Natalka and production increases at several brownfield sites. Higher mine production and ramp up of several new projects led to 3% rise in Australia’s aggregate mine production. The easing up of regulatory hurdles and permitting process led to 66% surge in Turkish gold mine output.

On the other hand, a handful of countries reported decline in output. China- the world’s largest producer saw its mine output fall by 6% during 2019, thus registering third consecutive year of decline. The fall in output is primarily attributed to stricter environmental regulations imposed by the Chinese administration over the past few years.

The series of industrial actions curtailed South African production. Ongoing disputes between local communities and contractors impacted South American output. Indonesia too witnessed significant decline in mine production.

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