Gold production volume Australia FY 2023-2029
Australia is one of the leading gold-producing nations in the world. In fiscal year 2023, around 301 metric tons of gold were produced in Australia. By 2029, the production volume was forecast to reach 324 metric tons.
Australia’s gold rush
Australia looked set to become the world’s largest gold producing country by 2021, overtaking China in the process. This was partly due to tightening environmental regulations, and partly due to the COVID-19 outbreak, which led to a Chinese output decline. The value of gold exported from Australia was expected to reach 25.4 billion Australian dollars in 2023.
Australian gold mining companies
The leading Australian gold mining companies by market capitalization were Newcrest Mining, Northern Star Resources, and Evolution Mining. Cadia mine, owned by Newcrest, produced the second-highest volume of gold in 2022. The underlying profit of Newcrest reached 778 million U.S. dollars in financial year 2023.