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Global gold production may rise for the first time in four years in 2009 as China and Indonesia increase output, Australia’s commodity forecaster said. Mine production may increase to 2,476 metric tons in the 12 months ending Dec. 31, 2009, the Canberra-based Australian Bureau of Agricultural and Resource Economics said today in a report on its Web site. “This increase reflects the expectation of some recovery in the grades of ores mined, particularly in Indonesia, and an assumed reduction in unscheduled mine disruptions,” the report said. New mines in China including Sino Gold Mining Ltd.’s White Mountain, will boost production, it said. Gold trading at $828 as of 9:20am, GMT.
mounting evidence of OPEC's compliance with deep production cutsOil prices rose nearly 3 percent on Monday after an Iranian military commander reportedly called for an oil boycott...
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