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In 2021–22, Western Australian gold mining employed 36,087 people. [ 1 ] During 2021–22, the gold price reached a new record peak of over US$2000 per ounce in early 2022, before settling lower again.
For example, if one owns a share in a gold mine where the costs of production are US$300 per troy ounce ($9.6 per gram) and the price of gold is $600 per troy ounce ($19/g), the mine's profit margin will be $300. A 10% increase in the gold price to $660 per troy ounce ($21/g) will push that margin up to $360, which represents a 20% increase in ...
Super Pit. The Fimiston Open Pit, colloquially known as the Super Pit, is an open-pit mine in Australia. It was Australia's largest open cut gold mine until 2016, when it was surpassed by the Newmont Boddington gold mine, also in Western Australia. The Super Pit is located off the Goldfields Highway on the south-east edge of Kalgoorlie, Western ...
The average gold price was US$874 per ounce in 2008–09, or A$1,171 per ounce, which was 28 per cent higher than the previous year. [15] While the value of sales increased by 25%, the gold output of the state decreased by 4%, to 4.4 million ounces. Western Australia accounted for 62% of Australia's gold production in 2008–09. [16]
That would make a gold bar or brick weighing 400 Troy ounces worth more than $1.06 million today. This week's record high means that the price of gold has climbed hundreds of dollars per Troy ...
The World Gold Council estimates that all the gold ever mined, and that is accounted for, totals 187,200 tonnes, as of 2017 [3] but other independent estimates vary by as much as 20%. [4] At a price of US$1,250 per troy ounce , marked on 16 August 2017, one tonne of gold has a value of approximately US$40.2 million.
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