By Barry Fitzgerald
The Australian
Gold prices and gold equity values have plunged but production by the local industry is weathering the storm, so far at least.
According to the March quarter survey of the industry released yesterday by Melbourne-based consultant Surbiton Associates, local production for the period was 63.5 tonnes (2.04 million ounces), worth $US2.84 billion ($2.96bn) at current spot prices.
March quarter production — the shortest reporting period for the year and one in which summer cyclones affect output — was about 3 tonnes, or 5 per cent, lower than for the preceding December 2012 quarter but was up by one tonne on the previous corresponding period.