Australia’s Mining Monthly — December 2017

I

t almost seems like heresy, but a major
new report predicts Australia’s gold
production has almost reached its peak
and will more than halve over the next
40 years.
h e report was prepared by Richard
Schodde’s MinEx Consulting for the Centre
of Exploration Targeting, with additional
sponsorship from Geoscience Australia, the
CSIRO, most of the state geological surveys
and industry bodies such as the Association
of Mining and Exploration Companies, the

Australian Institute of Geoscientists and

Western Australia’s Chamber of Minerals

and Energy.

h e study is unique in making such a

detailed forecast over 40 years, although

the i ndings echo statements from the likes

of UNCOVER and the group driving the

MinEx CRC bid that Australia is fast running

out of gold and base metals.

h is contrasts pretty sharply with the

roaring success of the gold industry since

the 1980s, when total Australia production

soared from about 20 tonnes to 250 tonnes

per annum and has stayed around that level

ever since.

In fact, there is a view in some circles

that forecasts of the demise of gold and

base metals in Australia is some kind

of snobbishness towards browni eld

exploration, which has underpinned the gold

growth story since 2000.

Neil Phillips captured this in a recent

AusIMM paper, entitled Gold in Australia.

He wrote that the browni elds-driven

14 AMM December 2017 http://www.miningmonthly.com

Exploring

conl icting views

David Upton digs into differing views on the future of the Australian gold industry.

Advancing Exploration

[email protected]

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