Production for the final quarter rose to 2.19 million ounces against 2.02Moz in the March quarter and average cash costs were $323.50 as opposed to $340.10 in the previous quarter.
“These results reflect a recovery from the rainfall affected March quarter and the continued reduction in cash costs proves yet again that producers in Australia are continuing to take up new technologies and increase efficiencies to make themselves more profitable,” Australian Gold Council CEO Greg Barns said.
Placer Dome’s Granny Smith gold mine was toppled from its long-held position as Australia’s most profitable gold mine, falling to fourth, enabling Normandy Mining’s Super Pit to take the mantle, CIBC World Markets, which compiled the survey, said.
Granny Smith held its position as the most profitable mine for the full 12 month period.
A full summary (PDF 124k) of the CIBC survey can be downloaded here.
