SYDNEY, Feb 29 (Reuters) - Australia maintained its number two ranking in gold output behind China in 2010 with production of 266 tonnes, as miners dug deeper to cash in on high bullion prices, a survey by sector researcher Surbiton Associates showed.
The increase marked a 17-percent, or 38-tonne, rise on Australia's 2009 total and is the highest annual output since 2003, according to Melbourne-based Surbiton.
China was number one with reported production of 341 tonnes and the United States is likely to come in as number three with an output of around 240 tonnes, according to Melbourne-based Surbiton Associates.
The combined 2010 production of all three countries in 2010 paled against output from South Africa in its heyday as the largest gold mining country.
South Africa produced more than 1,000 tonnes of gold in 1970 and for decades was the world's largest producer.
But for 2010, South Africa is expected to record output of only about 200 tonnes, Surbiton said.
Gold climbed to record highs price above $1,430 an ounce in November, though prices have since staged a modest retreat. At 2214 GMT, spot gold was fetching $1,409.15 an ounce.
Strength in Australia's currency was taking some of the shine of bullion prices for Australian miners.
The current Australian dollar-denominated gold price of A$1,386.55 per ounce is A$159 an ounce below the all-time high of A$1,547 ounce reached in February 2009.
At that time, the U.S dollar-denominated gold price was $989 per ounce but the Australian dollar was worth only $0.64.
(Reporting by James Regan; Editing by Ed Davies) Keywords: GOLD AUSTRALIA/ (jim.regan@thomsonreuters.com)(+612 9373-1814)(Reuters Messaging: jim.regan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The increase marked a 17-percent, or 38-tonne, rise on Australia's 2009 total and is the highest annual output since 2003, according to Melbourne-based Surbiton.
China was number one with reported production of 341 tonnes and the United States is likely to come in as number three with an output of around 240 tonnes, according to Melbourne-based Surbiton Associates.
The combined 2010 production of all three countries in 2010 paled against output from South Africa in its heyday as the largest gold mining country.
South Africa produced more than 1,000 tonnes of gold in 1970 and for decades was the world's largest producer.
But for 2010, South Africa is expected to record output of only about 200 tonnes, Surbiton said.
Gold climbed to record highs price above $1,430 an ounce in November, though prices have since staged a modest retreat. At 2214 GMT, spot gold was fetching $1,409.15 an ounce.
Strength in Australia's currency was taking some of the shine of bullion prices for Australian miners.
The current Australian dollar-denominated gold price of A$1,386.55 per ounce is A$159 an ounce below the all-time high of A$1,547 ounce reached in February 2009.
At that time, the U.S dollar-denominated gold price was $989 per ounce but the Australian dollar was worth only $0.64.
(Reporting by James Regan; Editing by Ed Davies) Keywords: GOLD AUSTRALIA/ (jim.regan@thomsonreuters.com)(+612 9373-1814)(Reuters Messaging: jim.regan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.