Gold mining output growth to rebound in coming years, says Fitch Solutions – by Tasneem Bulbulia ( – June 12, 2020)

Global gold mine production growth will rebound in the coming years, underpinned by higher gold prices and mergers between large mining firms, says research firm Fitch Solutions Country Risk and Industry Research.

The firm expects global gold production to increase from 106-million ounces this year to 133-million ounces by 2029, averaging 2.5% yearly growth.

This would be an acceleration from the average growth of just 1.2% over 2016 to 2019.

Fitch Solutions forecasts China’s gold production to remain roughly stagnant between this year and 2029, with an average yearly growth rate of 0.2%. This is a notable slowdown compared with output over the previous decade.

The country’s gold output has been challenged by strict environmental regulations and the closure of smaller mines, and falling ore grades in general. Despite this, the country is expected to remain the largest global producer of gold ore by a considerable margin.

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