Ramelius Boosts Production Outlook Amid Strong Gold Demand
Ramelius Resources has increased its forecast for gold production between FY27 and FY30 by around 5%, with a new target of 560,000 to 610,000 ounces in FY30. This represents an 11% increase from the previous range of 500,000 to 550,000 ounces.
The higher forecast is primarily driven by improved grades at Mt Magnet, according to Goldman Sachs, which also revised Ramelius' AISC and growth capex upwards by 16% and 14%, respectively.
Gold demand remains robust despite a stronger US dollar and higher yields, with investor demand supported by continued ETF inflows and physical demand strengthening in India due to resilient wedding-related demand.
Chinese gold imports have surpassed 1,000 tons through August, exceeding the full-year total for 2025 and marking the highest level since 2017. A stronger yuan has also created favorable conditions for imports by lowering the local cost of dollar-denominated gold.