Gold production in Australia has risen to its highest level during the decade. About 273 tonnes of gold was produced last year, increasing about 7% of its production in 2012, according to a mining consultancy firm Surbiton Associates Pty.

Because the price of Gold depreciated for the past years, miners were obliged to seek for high quality ores so as to maintain the similar profit. Several high quality ores were accumulated last year, thus, enabling them to acquire more profit.

Surbiton Associates’ Jim Pollock said, “When the price goes up companies can treat lower grade ore and still make a reasonable profit, but when the prices go down the reverse is the same and companies have to actually mine higher grade ore to maintain the same profits.”

Australia is the world’s 2nd biggest gold producer since they have produced 275 tonnes last year. China remains at number 1 being able to come up with more than 400 tonnes each year.