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Tuesday, 16th December 2008 (1735 views)

Gold production around the world has been predicted to rise next year.

According to the Australian Bureau of Agricultural and Resource Economics (Abare), the peak in output of 2,640 tonnes was reached in 2001.

This year it is expected to fall to 2,400 tonnes, three per cent lower than in 2007.

However, the body has forecast a three per cent rise over the next 12 months, with production back up to 2,476 tonnes.

A boost is expected to come from new mines such as Sino Gold's White Mountain project and the Abare report stated: "This increase reflects the expectation of some recovery in the grades of ores mined - particularly in Indonesia - and an assumed reduction in unscheduled mine disruptions."

Gold production in Ghana - Africa's second-biggest miner of the precious metal - increased by two per cent in the first three quarters of 2008, Reuters reported earlier this month.

 

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