Aussie Gold Output.

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Post  adrian ss on Wed Jun 26, 2019 9:15 am

Australia is the second largest gold producer in the world with China as number one. Although maybe China gets most of its gold from countries outside of China?
We do not want them getting their hands on our gold.
https://www.smh.com.au/business/markets/australia-s-gold-production-may-rise-to-record-in-2018-20180304-p4z2r3.html
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Post  Minermike on Wed Jun 26, 2019 9:39 pm

China is the biggest producer of gold , that is miner . It is from their territories , parts of their land mass . Not from other countries out side of China . From what I read they are buying and storing gold from other countries .
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Post  adrian ss on Thu Jun 27, 2019 10:32 am

Largest gold mine in China.
According to reports, Xiling gold deposit is more than 2,000 meters long and part of it has a thickness of 67 meters. Currently, 382.58 tons of gold reserves have been prospected with an average gold grade of 4.52 g/t. And 550 tons of gold resources with more than $22 billion potential economic value can be expected in two years. If producing on a scale of 10,000 tons every day, the gold deposit can produce gold continuously at full capacity for 40 years.

Seems to me that 550tons of gold reserves at  at 4.52g/t = 2486g = 2.486kg = not a bloody lot

Even at 10,000 tons of ore at 4.52 g/t per day = 45kg of gold per day for 40 years = 657000kg   = 723ton = about 6 ton per quarter. = not much

Australia is producing approx 90 tons of gold per quarter.
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Post  Minermike on Thu Jun 27, 2019 12:22 pm

You are comparing one Chinese mine production to ALL Australian mine production . China is the largest miner of gold at the present time .
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Post  Kon61gold on Thu Jun 27, 2019 12:40 pm

Good to hear Adrian. That just means selling off more of Australia's gold reserves to China. Shocked Q35  
Like I once said, Australia, one of the richest mineral producing countries in the world, is all but now owned by foreign companies. Soon nothing will belong to the Australian people. Only a matter of time before we're all working for a bag of peanuts under the control of the Mandarin.
Bravo & well done politicians. Keep up the good work. Whilst the Aussie battler is struggling to survive, you keep patting yourselves on the back of another exorbitant pay rise.
"Australia is still one of the best countries on earth to live in" I agree, but if nothings done & done soon to better our economy, poverty & suffering will increase & continue to do so.  

Cheers Kon
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Post  adrian ss on Thu Jun 27, 2019 2:31 pm

We are not far behind dude.....A mere 70 - 80 tons per year= approx 18000 g per quarter
http://www.usfunds.com/investor-library/frank-talk/top-10-gold-producing-countries/#.XRREnNR95N1

China's gold reserves are quite low on a world scale.
https://en.wikipedia.org/wiki/Gold_mining_in_China
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Post  Minermike on Thu Jun 27, 2019 2:45 pm

I doubt that Australia will over take China as number one . Australia has been doing large scale mining for a lot longer than China .
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Post  adrian ss on Thu Jun 27, 2019 3:05 pm

Chinese have been digging gold for thousands of years, we bin diggin fer 250y.

The Chinese turn a lot of their gold into jewellery and they hold on to the rest. Our gold fields are of great interest to the China. Let's hope that we hold on to our gold.
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Post  Minermike on Thu Jun 27, 2019 3:38 pm

Unlikely , we will hold on to the gold , not with the pollies we have . All our gas is exported at a give away price . All private cars in Australia , running on gas , should be given free gas ! It would save a lot of CO2 .....
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Post  shire of boulder on Thu Jun 27, 2019 3:48 pm

some interesting maths by you Adrian Very Happy

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Post  adrian ss on Fri Jun 28, 2019 8:35 am

Well maths was never my strong subject. Laughing Maybe I will re do those figures aye. Rolling Eyes........Nah stuff ut . If it's right it's right, if it's wrong it's wrong.
I guess for one mine it's ok. I wouldn't mind that mine being mine. Very Happy

If Aussie is producing 90 metric ton of gold per QTR then that is a block of gold 5.5 x 5.5 x 5.5 foot approx. Times 4 =  a pretty good nugget. Make a nice door stop. Rolling Eyes
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