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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (66650)	8/31/2010 10:03:00 AM
From: LoneClone	Read Replies (1) \| Respond to of 194913

WA gold production jumps on higher prices SEAN SMITH, The West Australian August 30, 2010, 6:54 am au.news.yahoo.com WA gold production jumps on higher prices Bloomberg © New mines in WA have helped reinvigorate the Australian gold sector, with the industry producing its best quarter in nearly seven years. Latest data from industry consultancy Surbiton Associates shows Australia's gold production rose 11 per cent in the June quarter to 67 tonnes, or 2.2 million ounces, the best performance since the December quarter in 2003. Output was up 20 per cent on a year-on-year basis. Production for the year to June 30 rose 11 per cent to 245 tonnes, worth $11 billion at current bullion prices, from 222 tonnes in 2008-09. Surbiton director Sandra Close said that while existing producers increased production to take advantage of higher gold prices, new mines also made a strong contribution to the improved figures. They include Newmont's big low-grade project at Boddington, La Manca Resources' Frogs Leg mine and Saracen Minerals' Carosue Dam mine. Dr Close also suggested that easier access to credit as the economic environment improved after the global financial crisis had helped other companies revive marginal projects. Newmont and Barrick Gold's Super Pit in Kalgoorlie remains Australia's biggest producer, turning out 758,000oz for 2009-10, ahead of Newcrest Mining's Telfer mine in the Pilbara with 689,000oz.