Australia Gold Output Hits 303 Tonnes, Boddington Leads Production
Australia produced 303 tonnes of gold in the year ended June, with Newmont's Boddington mine posting the largest quarterly gain.
Key points
- Australia produced 303 tonnes of gold in the fiscal year ended June, a four-tonne increase from the previous year.
- Newmont’s Boddington mine was the top producer with 563,000 ounces, adding 49,000 ounces in the final quarter.
- Cadia mine output fell by 60,000 ounces due to seismic disruptions, while Northparkes achieved negative sustaining costs via copper credits.
Australian gold production totaled 303 tonnes, or 9.7 million ounces, for the financial year ending June 30, maintaining levels consistent with the national ten-year average. This output represents a four-tonne increase over the prior year and carries a valuation of approximately A$60 billion at current market prices, according to Surbiton Associates.
Quarterly production rose by nearly two tonnes to 76 tonnes in the final three months of the fiscal year. Sandra Close, director at Surbiton, noted that most operations increased output compared to the previous quarter, while smaller producers increasingly utilized toll treating or direct ore sales to manage costs.
Boddington leads national production rankings
Newmont’s Boddington mine remained Australia’s largest producer, yielding 563,000 ounces for the full year. It was followed by Northern Star Resources’ Super Pit at 480,429 ounces and the AngloGold Ashanti-Regis Resources Tropicana mine at 478,095 ounces. Newmont’s Tanami operation and Gold Fields’ St Ives mine contributed 395,000 and 354,900 ounces, respectively.
Boddington recorded the largest quarter-over-quarter improvement among major sites, adding 49,000 ounces to its March-quarter output. Tropicana gained 23,000 ounces, while Northern Star’s Thunderbox-Bronzewing operation added 15,500 ounces, reflecting broader operational momentum across the sector.
Seismic disruptions impact Cadia mine output
Newmont’s Cadia mine experienced a production decline of 60,000 ounces in the June quarter due to seismic activity disrupting operations. Surbiton estimates that national output would have been approximately two tonnes higher if Cadia had maintained its previous quarter’s production levels, highlighting the site’s significant weight in the national aggregate.
Copper credits lower Northparkes sustaining costs
Evolution Mining’s Northparkes mine achieved a negative all-in sustaining cost of A$10,696 per ounce in the June quarter, driven by strong copper credits. The operation treated ore grading 0.17 grams of gold per tonne and 0.57% copper, benefiting from copper prices that have risen 46% in the past year to $6.72 per pound.
