WGC Demand Trends: Gold Mine Production Hit Record in Q1 2025

SEATTLE (Scrap Monster): The World Gold Council's (WGC) Gold Demand Trends: Q1 2025 Report states that record gold mine production helped to boost the overall supply of gold during the first quarter of 2025.

In the first quarter, the overall supply of gold increased marginally by 1% year over year to 1,206 tons. In the first quarter of previous year, the supply came to 1,194.2 tons. The quarter's record mine production of 856 tonnes—the biggest supply ever recorded—was the primary driver of the supply increase. In the meantime, even though gold prices increased significantly, recycling volumes fell by 1%.

The 45% annual increase in Chilean mine production was a result of the Salares Norte mine's return to a stable operating state. Due to the development of Shandong Gold's Namdini plant and the ramp-up of its current operations, Ghana's production rose 11% annually. Additionally, mine production increased by 4% in Canada and 2% in China over the previous year.

However, production decreased by 25% year over year as a result of the continuous halt of operations at the Copler mine and production sequencing at the Oksut mine. Mine output in Indonesia decreased by sixteen percent. Additionally, mine production decreased by 3% in Australia and 9% in Mexico.