WA home to top 4 gold mines

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Western Australia is home to the nation’s top four producing gold mines, with Australia remaining the world’s second largest gold producer in 2011, according to Surbiton Associates.

The Super Pit in Kalgoorlie, a joint venture between Newmont Mining and Barrick Gold, was Australia’s top gold mine last year, producing 796,000 ounces.

Second was Newmont’s Boddington mine producing 742,000 ounces, with Newcrest’s Telfer project following close after at 554,779 ounces.

Gold Fields’ St Ives mine completed the top four at 464,546 ounces.

Almost 264 tonnes of gold were produced in total last year, two tonnes less than in 2010.

While total production slid slightly it was offset by much higher prices, and Surbiton said at current prices the 2011 production total would fetch around $13.5 billion.

China remains the world’s largest gold producer, with the United States coming third, only slightly behind Australia at 240 tonnes.

Image: www.goldprices-en.com

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