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ABC News
ABC News
Business

Foreign ownership of gold mines would rise above 50pc if Newmont-Newcrest deal goes ahead, analyst says

Australia's gold mines produced about $26 billion worth of the precious metal last year.   (Supplied: Perth Mint)

A mining analyst says foreign ownership of Australia's gold industry would rise above 50 per cent if a $24.4 billion takeover bid for the country's biggest producer is successful.

Melbourne-based Surbiton Associates has released its 2022 analysis of Australian gold production, which totalled 313 tonnes, the equivalent of about 10 million ounces.

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