According to SNL Metals & Mining, a mining-focused research firm, production of gold dropped in the first quarter of 2015, compared to data from
the same period of 2014.
Chris Hinde, director of reports, noted that according to the firm’s database, 46 of the most significant gold producers (weighed by those who produce above 50,000 ounces of gold quarterly) reported a combined 11.2 million ounces of production - a decline from 12.5 million ounces in the December 2014 quarter – a quarter-over-quarter drop of over 10%.
He noted that this mostly happened due to a dip in output from AngloGold Ashanti Ltd., Goldcorp Inc. and Sibanye Gold Ltd.
“The three miners registered a combined fall in production of 476,000 ounces compared to the linked quarter," he said adding that “Another four producers registered quarter-on-quarter reductions in gold production of over 100,000 ounces.”
Those four were Barrick Gold Corp., with a decline of
137,000 ounces of gold in the first quarter of 2015; Centerra Gold
Inc.’s 130,553 ounces decline, Polymetal International Plc’s decline of
113,000 ounces and diversified miner Freeport-McMoRan Inc.’s decline
of 109,000 ounces during the first quarter of 2015.
