IMF, central banks have 34, 000 tonnes of gold in their vaults, equivalent to 13 years of mine output.
Primary silver mine supply grew by 1% to 221.6 million ounces, accounting for 28% of global silver mine output.
FORBES: Silver Institute: Global Silver-Mine Output Rises 4% To Record High In 2012
Mine output is expected to gain 860, 000 metric tons, or 5.3%, in 2012.
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Foster looks for increased mine output to level off in a few years.
FORBES: Global Output From Gold Mines In Upswing Although Some Constraints Persist
Silver mine output is expected to grow by more than 6% this year, with recycled supply also on the increase.
FORBES: Thomson Reuters GFMS' Newman: Silver May Move Toward $50 Yet In 2011
An increase in copper demand places pressure on the supply side, which continues to experience shortfalls in mine output versus forecasts.
According to Gold Fields Mineral Services, a consultancy, official sales rose last year to 412 tonnes, equivalent to one-sixth of new mine output.
Nevertheless, some analysts say that mine output has not grown as rapidly as might be expected given a several-fold increase in the price of gold over the last decade.
FORBES: Global Output From Gold Mines In Upswing Although Some Constraints Persist
The consultancy looks for another surplus (excluding investment), with mine output and scrap expected to rise further at a time when a less-than-promising economic outlook takes some shine off of fabrication.
FORBES: Thomson Reuters GFMS: Silver Volatility Likely; Prices To Gain Traction Later In 2012
Higher prices tend to draw more supply to the market in the form of scrap and increased mine output, she said, and at the same time encourages industrial users to look for cheaper substitutes.
However, in 2013, Freeport will be gaining access to higher grades of its mine and output is expected to start rising again, the CEO explained.
The Marlin mine produced quarterly record output of 95, 000 ounces of gold and 2, 291, 100 ounces of silver in the July-September period, fueled by higher ore grades and tons of ore milled.
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Just recently Impala Platinum came to terms with striking workers after several weeks of no output at its Rustenburg mine.
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However, while output on the Marlin mine is expected to be strong in the fourth quarter, the pace will not be sustained.
FORBES: Goldcorp CEO Sees Higher 4Q Gold Output; Company Soon To Be Major Silver Producer
Freeport Indonesia said in February that it expected output from the Grasberg mine to rise 30% this year, after falling around 40% last year due to strikes and its mining an area with lower mineral content.
Also, it lowered its annual copper output forecast from the Batu Hijau mine in Sumbawa island to 170.6 million pounds from 192 million pounds earlier.
Also, it has lowered its annual copper output forecast from the Batu Hijau mine in Sumbawa island to 170.6 million pounds from 192 million pounds earlier.
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The Kensington mine in Alaska also saw production growth as gold output rose to 24, 391 ounces, a 13% increase over the second quarter.
FORBES: Coeur d'Alene's CEO 'Not Pleased' With 3Q Results But Says 'Issues Are Short Term'
Back in 1998, when the firm opened a new mine called Yandicoogina, planners expected a slow expansion in output to 15m tonnes a year in the remote future.
With a decline in output, there is a possibility of renewed friction with mine workers.
What convinced him that this was a trend with legs was a visit to a tiny Texas mine called Vasquez, whose anticipated 400, 000-pound yearly output was a pittance.
Newmont said lower grades due to mine sequencing at Gold Quarry and lower grades at Exodus in Nevada could result in output for the year being near the bottom of the range.
Revenue hit a record high even though gold-mining output was down from the year-ago quarter due to factors such as mine sequencing and lower ore grades in certain mines.
The Palmarejo mine in Mexico saw a large drop off in production during the third quarter as silver output totaled 1.8 million ounces, down 23% from the second quarter, and gold output totaled 23, 702 ounces, down 24% compared to the second quarter.
FORBES: Coeur d'Alene's CEO 'Not Pleased' With 3Q Results But Says 'Issues Are Short Term'
The new Pueblo Viejo mine in the Dominican Republic went into commercial production in January, with a ramp-up to full output expected in the second half of 2013.
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