Australia is one of the largest gold producers in the world. Gold has played an important role in the history of the country and also continues to play a major role in its economy. New South Wales became the economic center of the country when the gold rush began in Bathurst in 1851. Additional gold was discovered in Victoria and Western Australia. This led to the establishment of many mining companies that brought great development and boosted the economy. Some say gold is the lifeblood of Australia. There is probably more money for gold companies in Western Australia than in any other country in the world. The gold mining industry in Western Australia is dominated by these five gold mines. . There are more cash for gold dealers in Australia than there are in any other country in the world. Australians mine and recycle gold as much as they produce it.:
Boddington Gold Mine
The Boddington gold mine is located 130 km south-east of Perth. The mine opened in 1987 and produced 739,000 ounces of gold as of June last year. The mine was expanded to produce an average of 850,000 ounces of gold per year. The mine was purchased by Newmont Mining in 2005. In 2009, Newmont was purchased by AngloGold. The mine has an estimated 20 years remaining.
- Kalgoorlie Superpit Gold Mine
The discovery of gold in 1893 is what is known as the Kalgoorlie-Boulder. This led to the “Golden Mile”, which happens to be the richest gold deposit in the world. All the individual land leases in the area were consolidated into what is now Kalgoorlie Consolidated Gold Mines Pty Ltd. The mine has been producing over 800,000 ounces of gold a year in over 25 years.
- Telfer Gold Mine
The Telfer Gold Mine is located in the Great Sandy Desert region of Western Australia. From 1975 to 2000, the mine produced an average of 6 million ounces of gold. It was closed between 2000 and 2004. Since reopening in 2004, the mine has produced an average of 4 million ounces of gold. Telfer consists of the Main Dome and West Dome pits as well as an underground mine. There are exploration targets around the mine, as more people fear reaching peak gold.
- Jundee Gold Mine
It is located in the Jundee district, in the northern part of the country, 520 km north of Kalgoorlie, the capital of the country. Surface mining began in 1995 and in 1997 two underground mines began producing gold. The mine was purchased by Northern Star Resources in 2014. Currently, the underground operation is the main source of ore from Jundee.
- Lake Cowal Gold Mine
The Cowal mine is located 350 km west of Sydney. It was purchased from Barrick Gold by Evolution Mining in 2015. This open pit mine produces an average of 230,000 stope ounces per year. The mine life is expected to continue until 2024. This mine has the most attractive gold properties and the owners plan to explore it further.
Over the years, many small miners worked the land in the area and collected the gold left behind by the large mining companies. Some recreational gold prospectors find nuggets of gold in these areas, which they sell to cash for gold companies in the area. Gold remains the largest contributor to the local economy even as mines reach peak production.
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