• Kitco | Global Gold Mining Expected To Remain Stable In 2019

    18 Dec 2018 | Gold News


Global gold production is expected to be somewhat stable in 2019, with one analytical firm forecasting a fall of half a percentage point and another looking for a rise of less than that.

The GFMS team at Refinitiv projected 2019 gold production will ease to 3,265.5 tonnes from an estimated 3,281.7 for 2018.

Meanwhile, the consultancy Metals Focus sees global gold mine production edging higher by 0.2% in 2019 to a new record of 107.6 million ounces.


Metals Focus listed the following expected notable additions to mine supply:

Mincor Resources achieved first gold production at Widgiemooltha in Australia in July, and the operation is expected to reach an average gold production of one tonne per year.

Orminex Ltd. announced the first gold pour at Comet Vale, also in Australia, in August. The first stage of development consists of a 27-month mine plan exploiting a 200,000-ounce resource.

The first gold pour at Pan African Resources’ Elikhulu tailings retreatment plant in South Africa was accomplished in August, with the operation scheduling steady-state production of 1.7 tonnes a year.

Nordgold started operations at the Gross project in Russia in September, and once fully ramped up, the open pit/heap leach operation will have an average gold production of 6.2 tonnes a year.

Harte Gold Corp. achieved first gold pour at Sugar Zone Mine in Canada in October, and the operation is targeting annual production of 3.3 tonnes per year from the three phased ramp-up.

Nornickel continues commissioning of the Bystrinsky project, with gold in concentrate is forecast to average 7.6 tonnes per year.


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