Global gold mine production growth will rebound in the coming years, underpinned by higher prices and mergers between major mining firms, a new report by Fitch Solutions Country Risk and Industry Research, a unit of Fitch Group states.
The report notes that major mergers among global miners and an improving gold price outlook will boost global mine supply in the coming quarters.
Fitch Solutions forecasts that global gold production will increase from 106-million ounces this year to 133-million ounces by 2029, representing growth of about 2.5% a year on average.
This would be an acceleration from the average growth of just 1.2% over 2016 to 2019.