Australia is one of the biggest producers of gold in the world. Gold has played a significant role in the history of the country and continues to play a big role in its economy tooNew South Wales became the country’s economic hub when the gold rush began in the town of Bathurst in 1851, this occurred while the gold price Australia was highThere were more gold discoveries in Victoria and Western AustraliaThis led to the creation of many mining companies that have brought much development and boosted economy, transportation, and other thingsSome would say that gold is the lifeblood of AustraliaThere are probably more cash for gold companies in Western Australia than there are in any other country in the worldAustralians mine and recycle gold as much as they produce itThe gold mining industry in Western Australia is dominatedthese five gold mines:
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Boddington Gold Mine, Newmont Mining
Boddington Gold Mine is located 130km south-east of PerthThe mine started in 1987 and until June last year, it produced 739,000 ounces of goldThe mine is being expanded to produce an average of 850,000 ounces of gold per annumThe mine was boughtNewmont Mining in 2005In 2009, Newmont was boughtAngloGoldThe mine has an estimated 20 years of life left.
Kalgoorlie Superpit Gold Mine, Kalgoorlie Consolidated Gold Mines Pty Ltd (KCGM)
Dan Shea, Thomas Flanagan and Paddy Hannan found almost 100 ounces of gold in 1893 in an area now known as Kalgoorlie-BoulderThe hold rush that resulted led to the discovery of the Golden Mile which is one of the richest gold deposits in the worldBy 1989 all the individual land leases in the area were consolidated into what is now known as Kalgoorlie Consolidated Gold Mines Pty Ltd (KCGM)The mine has produced over 800,000 ounces of gold per annum over the last 25 years.
Telfer Gold Mine, Newcrest
Telfer gold Mine is located in the Great Sandy Desert area of Western AustraliaFrom 1975 to 200 the mine produced an average of 6 million ounces of goldIt was closed from 2000 to 2004Since its reopening in 2004, the mine has been producing an average of 4 million ounces of goldTelfer is made up of the Main Dome and West Dome pits as well as an underground mineThere are exploration targets surrounding the mine, which means that it is placed to continue growing its gold outputThe life of the underground mining operation is expected to last until 2021.
Jundee Gold Mine, Northern Star Resources
Jundee is located 520 Km North of Kalgoorlie in an area known as the Goldfields Region of Western AustraliaOpen pit mining began in 1995 and in 1997 two underground mines began producing goldThe mine was boughtNorthern Star Resources in 2014Currently, the underground operation is the main source of the ore from Jundee.
Lake Cowal Gold Mine, Evolution Mining
Cowal Mine is locate 350 km west of SydneyIt was bought from Barrick GoldEvolution Mining in 2015This open pit mine produces an average of 230,000 ounces of hold per yearThe life of the mine is expected to go on until 2024This mine has been described as having the most attractive gold assets and the owners plan to explore it further.
Over the years a lot of small-scale miners have worked the ground in the area, taking out the gold that the big mining companies leave behindWith the gold price Australia so high, mines that were once uneconomical are now economical to mineSome recreational gold explorers have stumbled across gold nuggets in these areas which they sell to cash for gold companies in the areaGold continues to be the biggest contributor in the local economy even as the mines reach peak production.
