❓ The Minister for Mines and Petroleum provides a positive overview of the WA goldmining sector, highlighting its economic contribution, government support through exploration incentives, and initiatives to improve productivity and reduce energy costs.
AnsweredQoN 150Legislative Assembly
QuestionView source ↗
GOLDMINING SECTOR
150. Ms W.M. DUNCAN to the Minister for
Mines and Petroleum:
Can the minister please describe to
the house the current state of the Western Australian goldmining sector?
150. Ms W.M. DUNCAN to the Minister for
Mines and Petroleum:
Can the minister please describe to
the house the current state of the Western Australian goldmining sector?
AnswerView source ↗
I would be delighted, member for
Kalgoorlie! I know that the member for Kalgoorlie and the member for Eyre are
very strong supporters of the gold industry in Western Australia.
The gold industry has been a shining
light in the mining industry over the last three years. Whilst things have been
a bit soft in other sectors, the goldmining industry has been very buoyant.
That is due, of course, to the fact that the gold price has remained at more
than $US1 200, and with the reduction in the exchange rate with the Australian
dollar, it has actually effectively been about $A1 650 to $A1 700 for the last
12 months.
In terms of some of the figures
around that, the gold industry represents about $9 billion of export income to Western
Australia, which is about 67 per cent of Australia's gold exports—and
most of that is from the eastern goldfields in the Kalgoorlie region, so the
member for Kalgoorlie will be quite knowledgeable about that. Across the board
in the sector, including in exploration, feasibility studies and gold
production, there is some good news on the horizon. I refer to Dacian Gold Ltd's
Mt Morgan area which, as the member will know, has had very promising
exploration activity. There is also Gold Road Resources Limited's
Gruyere deposit; the feasibility studies there are very prospective, with
probably about five million ounces prospective in that area and possibly
heading further. Of course, there is also Doray Minerals' Deflector
project, which used to be Mutiny Gold Ltd's prospect. It is starting
production later this year—on top of the Nova discovery that
Independence Group is running at the moment at Fraser Range.
A lot of this buoyant activity in
the goldmining industry is due to the government's support of the
goldmining sector, particularly through the exploration incentives scheme and
the co-funded drilling program. I was pleased last month to open the twelfth
round of the EIS, and there is about $5 million going towards exploration in
the industry. As everybody in this house knows, without exploration, we do not
have the mines of the future, and gold has been an outstanding sector in the
last 12 months.
I raise one other point before I close.
Productivity is important for all the sector. I was very pleased to go to
AngloGold Ashanti Tropicana joint venture's opening of its gas
pipeline. Energy costs in producing and processing gold is very important, and
by opening this new gas pipeline to Tropicana, its production costs will be
greatly reduced, and a lot of other mine sites along that route will benefit
from that gas.
The Liberal–National
government is committed to supporting mining, and in particular it is very
pleasing to see how well the gold sector has performed over the last 12 months.
The
SPEAKER : Thank you, ''Minister Goldfinger''! Member for
Cannington!
Mr
W.J. JOHNSTON : I heard that, Mr Speaker.
Kalgoorlie! I know that the member for Kalgoorlie and the member for Eyre are
very strong supporters of the gold industry in Western Australia.
The gold industry has been a shining
light in the mining industry over the last three years. Whilst things have been
a bit soft in other sectors, the goldmining industry has been very buoyant.
That is due, of course, to the fact that the gold price has remained at more
than $US1 200, and with the reduction in the exchange rate with the Australian
dollar, it has actually effectively been about $A1 650 to $A1 700 for the last
12 months.
In terms of some of the figures
around that, the gold industry represents about $9 billion of export income to Western
Australia, which is about 67 per cent of Australia's gold exports—and
most of that is from the eastern goldfields in the Kalgoorlie region, so the
member for Kalgoorlie will be quite knowledgeable about that. Across the board
in the sector, including in exploration, feasibility studies and gold
production, there is some good news on the horizon. I refer to Dacian Gold Ltd's
Mt Morgan area which, as the member will know, has had very promising
exploration activity. There is also Gold Road Resources Limited's
Gruyere deposit; the feasibility studies there are very prospective, with
probably about five million ounces prospective in that area and possibly
heading further. Of course, there is also Doray Minerals' Deflector
project, which used to be Mutiny Gold Ltd's prospect. It is starting
production later this year—on top of the Nova discovery that
Independence Group is running at the moment at Fraser Range.
A lot of this buoyant activity in
the goldmining industry is due to the government's support of the
goldmining sector, particularly through the exploration incentives scheme and
the co-funded drilling program. I was pleased last month to open the twelfth
round of the EIS, and there is about $5 million going towards exploration in
the industry. As everybody in this house knows, without exploration, we do not
have the mines of the future, and gold has been an outstanding sector in the
last 12 months.
I raise one other point before I close.
Productivity is important for all the sector. I was very pleased to go to
AngloGold Ashanti Tropicana joint venture's opening of its gas
pipeline. Energy costs in producing and processing gold is very important, and
by opening this new gas pipeline to Tropicana, its production costs will be
greatly reduced, and a lot of other mine sites along that route will benefit
from that gas.
The Liberal–National
government is committed to supporting mining, and in particular it is very
pleasing to see how well the gold sector has performed over the last 12 months.
The
SPEAKER : Thank you, ''Minister Goldfinger''! Member for
Cannington!
Mr
W.J. JOHNSTON : I heard that, Mr Speaker.
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