Australia’s gold production to rise — Gold Industry Group



WA centre of Australian gold manufacturing

In 2020–21, Western Australia was the biggest gold producing state in Australia, accounting for 68% (or 218 tonnes) of Australian whole gold mine output, adopted by New South Wales (11% or 36 tonnes), Victoria (7.6% or 24 tonnes), the Northern Territory (4.7% or 15 tonnes), Queensland (4.1% or 13 tonnes), South Australia (3.8% or 12 tonnes), and Tasmania (0.7% or 2.1 tonnes).

WA is anticipated to stay Australia’s largest gold mine producing State over the following a number of years as manufacturing rises. Manufacturing within the Northern Territory, South Australia and Tasmania can be anticipated to rise.

International Consumption

On a world scale, gold consumption elevated by 9.9% to 4,021 tonnes in 2021. The financial restoration from the pandemic noticed gold jewelry demand bounce 52% to 2,124 tonnes, whereas demand for gold in expertise elevated by 8.9%, propelled by a 9.2% rise in gold used within the electronics sector. That is anticipated to proceed into the longer term, with world gold consumption tipped to rise at an annual common price of 4.0% for the following three years, fueled by a projected fall in gold costs.

In regards to the REQ

The Assets and Vitality Quarterly (REQ) is a publication produced by the Australian Authorities’s Division of Business, Science, Vitality and Assets containing the Workplace of the Chief Economist’s forecasts for the worth, quantity and worth of Australia’s gold commodity exports.

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