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The market demands for gold remain strong ensuring opportunities for South Australia's gold sector and supporting businesses.
South Australia fast facts
- 25% of Australia's gold resources
- 4th largest global gold deposit
- $5 billion sales over past 10 years
- 9 tonnes production per year
- 2,860 tonnes resource
- 480 tonnes reserve
- 850 people directly employed in gold mining
South Australia presents opportunities to secure investment across the value chain for discovery, development and production of gold in our State.
Gold statistics 2018-19
|Mine production volume1||9 t|
|Mine production value1||$491 million|
|Selected mine production2||
Olympic Dam - 106,968 oz|
Prominent Hill - 130,619 oz
|Exploration expenditure3||$8 million|
|Mine production volume4||321 t|
|Exploration expenditure3||$964 million|
|Resources5||10,070 t Economic Demonstrable Resources|
|Reserves6||3800 t JORC compliant|
|Selected mines reserves||
Olympic Dam - 390 t gold, 10 Mt copper, 2196 t silver, 0.3 Mt U3O8|
Boddington (WA) - 348 t gold
|Mine production5||3260 t (China 400 t, Australia 310 t)|
|Reserves5||54,000 t (Australia 9800 t equiv. 3800 t JORC)|
1 Mineral Resource Production Statistics, DEM
2 Company reports, including: BHP annual report 2019 and OZ Minerals 2019 June quarterly report
3 8412.0 - Mineral and Petroleum Exploration Expenditure, Australia, Jun 2019, ABS
4 Resources and Energy quarterly Sept 2019, DIIS
5 Australia’s Identified Mineral Resources 2018
6 Mineral Commodity Summaries 2019, USGS
Gold production and sales
South Australia has consistently produced up to 14 tonnes of gold per annum and is set to increase production when new copper-gold mine Carrapateena commences production in late 2019.
Gold bullion from South Australian mines is further refined at the Perth Mint which has a responsibly sourced gold policy. Gold is also exported as concentrate to China, India and other global trading partners.
Exploring for gold
South Australia is renowned as a globally significant iron oxide copper-gold producer and exploration destination. Exploration expenditure for gold has been spent primarily in the search for iron oxide copper-gold deposits.
The State also hosts Archean and Proterozoic orogenic gold deposits and mines which are relatively under-explored along with quartz vein systems and alluvial deposits.
Commodity prices influence exploration activity and anticipated sustained high gold prices should translate into gold explorers looking for opportunities in underexplored regions such as South Australia.