Gold mining in Victoria is booming with annual production over 2019-20 reaching the highest yearly level since 1906.
Australian Bureau of Statistics (ABS) data shows statewide minerals exploration expenditure increased to $183.8 million last financial year, up by more than 35 per cent.
Released in August 2018, the Victoria Government’s five-year minerals strategy, State of Discovery, is on target to deliver on its goal of boosting total exploration investment spending to $220 million by mid-2023 with the aim to deliver at least one significant discovery by 2028.
Resources Minister Jaala Pulford recently visited Stawell gold mine to see how the operation has proved a boon for the town and the Wimmera region.
Operations at the Stawell gold mine ceased in 2016 but since reopening with new owners in 2018, it has gone from strength to strength with production growing and 300 local workers now on its books.
Ballarat’s Gekko Systems has been working with Stawell gold mine since its 2018 upgrade and the restart of production, providing innovative automatic processes to recover more gold – demonstrating the flow-on benefits the mine has had even beyond the Wimmera.
Victoria’s gold sector is valued at $1.9 billion and the outlook remains positive with minerals exploration growing in recent years.
In October the Government announced the outcome of the North Central Victorian Goldfields Ground Release tender, which could see more than $100 million invested across northern Victoria.
Pulford said Stawell gold mine’s resurgence has been stunning.
“That means hundreds of jobs for local workers and significant flow-on benefits for businesses across the Wimmera and beyond,” Pulford said.
“The future of gold mining in the region looks bright with the next phase of exploration to commence soon, increasing the likelihood of finding even more gold.”