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Australia to see growth in value of gold exports

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Global Mining Review,

Australia’s 80 gold medal-winning performances at the Gold Coast Commonwealth Games are set to be matched by a growth in the value of Australian gold exports, Queensland Resources Council Chief Executive Ian Macfarlane said.

“The projections are for Australian gold exports to reach AUS$19 billion in 2019 - 2020. During the Gold Coast Commonwealth Games, our athletes have ensured we have kept most of the gold medals here in Australia. The growth in jewellery, that accounts for almost half of global use of gold, is helping to drive growth,” he said.

Evolution Mining Executive Chairman Jake Klein said: “Evolution is delighted to see so many elite athletes striving for and achieving gold at Queensland’s Commonwealth Games. Gold is awarded for the pinnacle of sporting achievement and, as Queensland’s largest gold producer, we have 700 Queenslanders across our sites striving to produce around 400 000 ounces of Queensland gold this year.”

In terms of the Queensland Resources Council’s Value of Production Index, gold is a positive contributor to the strong growth in resources to the Queensland economy.

“The Production Index has increased by AUS$2.5 billion – or 17% – over the previous quarter. We are also seeing growth in zinc, copper, lead, aluminium, gold and silver,” Macfarlane said.

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