CAPITAL MARKETS

Australian gold output up, costs down

AUSTRALIAN gold production rose in the June quarter while cash costs fell, a CIBC World Markets s...

Greg Tubby

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.

 

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.