Peak Gold Output Is Looming for World’s No. 2 Producer
Gold output in Australia, the world’s second-largest producer, will peak in 2021 and more than halve by the mid-2050s as aging mines close, according to Melbourne-based industry adviser MinEx Consulting Pty. The nation needs to act to boost future production from new discoveries, or risk “significant supply disruption in the medium-term,” MinEx managing director Richard Schodde said in a study published Monday. Gold exploration spending rose 26 percent in the 12 months to July, Australia’s government said in a report this month.