Monday, May 23, 2011

Australian Gold Output Shrinks In First Quarter Of This Year

Due to heavy rainfall and cyclone activity, production in the first quarter of this year slumped by about 7% from the fourth quarter of last year: from 70 tonnes to 65.
On the east coast, Cyclone Anthony hit Queensland in January followed by Cyclone Yasi in February, in a period where most of the eastern seaboard and central Australia was soaked.

"The abnormally wet weather impacted both open cut and underground operations," Dr Close said.

"Access to ore and/or haulage from the mines to the processing plants caused a range of operational problems.

"Some mines had to cease production for several days while others had to process lower-grade stockpiled material."
Since the drop was weather-related, and output grew strongly last year, the growth trend is likely to resume this quarter.

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