|
The gold price is continuing to sustain the early $US800 level, unseen in the world for more than 20 years. As a traditional “safe’’ option for investors during times of economic instability, the US sub-prime concerns and rising inflation look set to ensure these high prices continue.
While China seems set to take the top spot in annual gold production in 2008, just ahead of South Africa, Australia is in a strong third position. In the last quarter of 2007, South Africa produced 192.8t of gold, followed by China (191.5t), Australia (184.5t) and the United States (179t).
And while recruitment and production costs are at sustained high levels, a robust bullion price will have the effect of attracting more gold exploration in Australia. The perception that Australia is a “mature” exploration environment has been turned on its head by the discovery recently of the Tropicana gold belt in Western Australia. JV partners AngloGold Ashanti Ltd and the Independence Group NL, in late 2007, released an initial resource which points to more than 4 moz at the project.
Tropicana, more than any other recent discovery in Australia, proves that there are entire new provinces, with new styles of mineralisation, to be found on the world’s oldest continent.
It is against this backdrop that any exploration or mining company – with a specific interest in gold – should find the time to attend Paydirt’s seventh Gold Conference, to be held at the Sheraton Perth on April 1-2, 2009.
|
Mining executives 
