According to Mining.com, Resources Monitor, a market analysis agency focused on Australia, released a short report saying that Australia will surpass China by 2021 and become the world’s largest gold producer.
Analysts support this assessment by observing the profit margins of most gold mining companies in the past 18 months. Particular attention is paid to the performance of Newcrest, Saracen, Silver Lake and Northern Star.
The Karlawinda project in Western Australia, the total resource of the project is estimated to be 50Mt@0.93g/t Au, and the gold content is 1.5 Mozz;
According to Resources Monitor, these profit margins match the price of gold. Despite the recent pressure, the price of gold has been rising in the past year and a half, pushing Australian miners to continue new mining projects or expansion.
Important expansions include:
Newcrest Mining is located in the Cadia Valley mine in New South Wales and is expected to produce 840,000 ounces in 2020;
The Carosue Dam project of Saracen Minerals in Western Australia is expected to produce 500,000 ounces in 2020;
Red5’s King of the Hills project in Western Australia is expected to produce approximately 100,000 ounces in 2020;
Newmont Australia’s Tanami project in the Northern Territory (Northern Territory) is expected to have an annual production of about 150,000 to 200,000 ounces of gold after the expansion is completed in 2023.
The new mines expected to start operations are:
Bardoc Gold ’s Bardoc project in Western Australia has an estimated total mineral resource of 49.4Mt@1.9g/t Au and a gold content of 3.02Moz;
The Karlawinda project of Capricorn Metals in Western Australia, the total resource of the project is estimated to be 50Mt@0.93g/t Au, and the gold content is 1.5 Mozz;
Regis Resources ’Mcphillamys project is located in New South Wales and contains 2.30 Moz gold content. The total resource is estimated at 68.9 million tons @ 1.04g / t Au.
