It is a well told story that the discovery of gold helped transform 19th
century colonial Australia into one of the most economically dynamic and
socially diverse nations of the modern era.
Probably less well known is the fact that gold continues to play a
fundamentally important role in the Australia’s fortunes, providing
employment for thousands of people, particularly in regional communities, and
generating wealth for the nation via taxes and royalties.
Unveiled today, research compiled by the Gold Industry Group in
association with Deloitte Access Economics reveals that:
• Australian mines produced more than 280
tonnes of gold, about 9% of global production, in 2016.
• The gold mining sector currently provides
full time employment for more than 26,000 people.
• About 50% of investment in mineral
exploration goes to the gold sector – worth AUD 617.6 million in 2016.
• Australia now has 66 operating gold mines,
and 14 of the world’s largest.
• The direct contribution of the mining of
gold ore is estimated to be AUD 5.9 billion.
Which all helps to explain why Australia continues to be ranked second on
the Reuters/GFMS league table of most prolific gold producing nations.
