Australia to lead world in gold production


Australia is set to overtake China as one of the world’s largest gold producers by the end of the decade, driving growth alongside Russia and Canada, according to Fitch Solutions.

Australian Mining is reporting Fitch Solutions predicted a lift in Australia’s gold output from 10.9 million ounces this year to 13.3 million ounces by 2029, averaging 2.3 per cent annual growth.

Australia was also ranked second after Canada in respect to the number of new projects and mine expansions.

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