FX.co ★ China is gradually losing its status as the world's largest gold producer

After leading the mining industry for about 14 years, China is slowly losing its status as the world's largest gold producer.

In a report released on Sunday, Australian mining consultancy Surbiton Associates said the country's gold production in the first half of 2021 was four tonnes more than in China, having outputted 157 tonnes in the first six months of the year, while China produced only 153 tonnes ...

More specifically, Australia produced 74 tons in the first quarter and 83 tons in the second quarter.

And over the past year, Australia has drawn out 321 tonnes of gold, which is approximately A $ 26 billion at current A $ 2,500 gold prices.

But despite such impressive gold production, Surbiton Associates said the pace slowed slightly from record levels in 2020, when the country produced 328 tons of gold.

Nevertheless, many analysts say Australia is likely to become the world's largest gold producer soon.

The largest gold producers in Australia in FY 2020-21 are: Cadia, Boddington, Fosterville, Tanami and Super Pit.