South Africa’s gold output continues to fall

Agnico, the second-largest gold miner by stock market value, agreed to acquire O3 last month for about C$204 million.

The Toronto-headquartered company now expects production of 380,000–440,000 tonnes copper this year, down from earlier estimates of 400,000–450,000 tonnes.

Gold stocks in COMEX-approved warehouses have jumped by one-third in the past six weeks.

Kazakhstan has produced about 65 tons of gold a year, according to the central bank.