The Financial Post reports in its Friday, Aug. 15, edition that even if production dips in the second half of the year, 2014 is likely to be the highest year on record and the fifth-straight year of record output from gold miners. The Post's Peter Koven writes that mining companies have played down production growth, saying they will only produce "high-quality ounces" and are no longer interested in "growth for growth's sake." The World Gold Council does not does not believe the trend of rising production is sustainable for much longer. With prices weak, miners are focusing on the high-grade portions of their mines, which causes them to deplete very quickly. The council thinks 2014 could be the peak year of gold mine production. The effects of the industry cutbacks will likely be felt later this year and into 2015, when production is expected to dip. The key sources of increased production are Canada and the Dominican Republic, where very large new mines are ramping up output (including Canadian Malartic, Detour Lake and Pueblo Viejo). Chinese output is also rising. With gold trading at $1,300 an ounce, most gold mines are still making a decent return and can keep running.