https://www.abc.net.au/news/2019-04...ustralian-gold-miners-tipped-to-fall/11056240 Australia is on the edge of a "production cliff" and could slip from second to fourth on a list of the world's biggest gold producing nations by 2024, mining analysts have warned. Key points: A research analyst says Australia's biggest gold mines are getting older and not enough new discoveries are being made to replace them He predicts global gold production will be in decline from 2022 The CEO of the Perth Mint says a significant fall in Australian gold production is highly unlikely Behind only China, Australia's gold mines will produce an estimated 10.7 million ounces this year — the equivalent of about $19.2 billion worth of the precious metal. But analysts predict Canada and Russia will overtake Australia, with production to fall more than 40 per cent to 6.3 million ounces over the next five years. With the Australian dollar gold price trading near historic highs of about $1,820 an ounce, that could potentially represent about $8 billion in lost production. "Come, mister tally man, tally me banana"
