Market Research Report
Australia Gold Mining to 2024 - Updated with Impact of COVID-19
|Published by||GlobalData||Product code||975206|
|Published||Content info||50 Pages
Delivery time: 1-2 business days
|Australia Gold Mining to 2024 - Updated with Impact of COVID-19|
|Published: December 1, 2020||Content info: 50 Pages||
GlobalData's "Australia Gold Mining to 2024 - Updated with Impact of COVID-19" provides a comprehensive analysis of the Australian gold industry. The report provides historical and forecast data on Australia's gold production, production by major producers, reserves, top gold mines by reserves and insight on the impact of COVID-19 on the country's gold mining industry. Demand section provides information on the country's gold demand from China, insight on Chinese gold demand by end use example jewellery and bars and coins. The report also concludes with profiles of the major gold producers and information on their major active, planned and exploration projects.
Australia holds world's largest gold reserve, accounting for 20% of the total reserves at 10,000t as of January 2020. Australia is the world's second-largest gold producer and home for 14 of the world's 20 biggest gold mines. In 2019, the country's gold production has reached 11,469.3koz, up by 4.2% over 2018. The additional output was supported by the commencement of the Gruyere project in Yamarna belt in 2019, which added 99.1koz of gold during the year. In 2020, output from Australian gold mines is expected to grow by 4.3%, with little impact from the COVID-19 pandemic. The Australian federal and state governments have taken effective measures to contain the spread of the virus.
The commencement of 84 projects is expected to support the Australia's production growth over the forecast period, with a CAGR of 3%, to reach 13,449.1koz by 2024. China is the world's largest gold consumer, and plays a key role in driving global demand. It is the key export partner country for Australia, among other Asian countries. However, various factors, including the US-China trade war, increased metal prices, while a slower economy and Brexit have impacted Chinese gold demand. In 2019, the global gold demand for jewelry fell by 6%, along with a 7% fall in China.