Falling currency prompts slight rise in Australian gold production

Section:

Weak Currency Encourages Australia's Gold Miners to Dig Deeper

By James Regan
Reuters
Sunday, November 29, 2015

SYDNEY, Australia -- Gold miners in Australia, emboldened by a weakening currency, have been increasing production in the face of a global rout in the precious metal, figures released on Sunday showed.

Output by the world's no. 2 producer behind China climbed to 72 tonnes in the third quarter, up 1 percent up on the previous quarter and 2 percent higher than the same period a year ago, according to a survey by sector consultants Surbiton Associates.

"The declining value of the Australian dollar has once again been the great savior of our gold sector and of the local resources industry in general," Surbiton director Sandra Close said. ...

... For the remainder of the report:

http://www.reuters.com/article/2015/11/29/us-gold-australia-idUSKBN0TI01...



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