The drop in output comes from massive manipulation in precious metals

theaustralian.news.com
GOLD output in Australia sank to an 18-year low last financial year — and not even a better fourth quarter could avert the poor result. What the high metal price gave to producers, soaring energy costs took away. The drop in output comes as a dramatic increase in costs in the past quarter threatens production at the nation’s second-biggest mine, the Kalgoorlie Super Pit. Added to that was the gold price starting the current quarter with its biggest nominal monthly drop in 25 years. More

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Posted by markw, filed under Finance. Date: September 1, 2008, 10:15 am |

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