Australia has produced 321 tonnes of gold in the last financial year, which is more gold than the country has ever produced before.

The new report from gold mining consultants Surbiton Associates says that 321 tonnes/10.3 million ounces of gold is worth approximately $23 Billion to local gold miners.  In the previous fiscal period, Aussie mines produced 317 tonnes of gold.

"The outlook for Australian gold production seems positive, however, many things can happen, I can't predict the future and am very conscious of the many factors and uncertainties that affect gold prices, exchange rates and production," said Surbiton director Sandra Close.

The June 2019 quarter logged the highest quarterly production for more than 20 years, totaling 82 tonnes.  

The top producers were Newcrest Mining's Cadia underground operation in New South Wales with more than 910,000 ounces; and Newmont Goldcorp's Boddington operations, which produced around 690,000 ounces.