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Surbiton: Australia's gold output climbs to 12-year high

from Bloomberg

Gold output in Australia, the world's second-biggest producer, reached the highest in 12 years in 2015 as rising prices see miners revive mothballed operations. Full-year production was 285 metric tons last year, almost two tons more than in 2014 and the highest annual total since 2003, mining consultancy Surbiton Associates Ltd. said Sunday in an e-mailed statement.

Bullion is the best-performing commodity this year, rising 15 percent, as haven demand lures investors and expectations mount that the Federal Reserve won't raise U.S. interest rates further in 2016. Producers in countries including Australia are also benefiting from weaker local currencies that trim costs and help to boost margins. more


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