WA gold mining companies form Gold Industry Group to represent producers and explorers
WEST Australia’s gold miners have joined forces to ‘champion’ the industry on day two of the Diggers & Dealers conference in Kalgoorlie.
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WEST Australia’s gold miners have joined forces to ‘champion’ the industry on day two of the Diggers & Dealers conference in Kalgoorlie.
Chaired by former Minister for Mines, Norman Moore, the Gold Industry Group will represent gold producers, explorers and prospectors, and help the long term sustainability of the sector.
Gold was the second most valuable mineral in WA in 2014, with production sales of $8.7 billion.
The group will advocate gold-specific issues, education and community initiatives and promote the yellow metal as an investment.
WA members include Gold Fields, Gold Road Resources, Doray Minerals, Norton Gold Fields and Ramelius Resources.
“WA is the heart of Australia’s gold industry,” Mr Moore said.
“By working together, gold miners will be able to promote the industry and ensure all Western Australians understand the significant social and economic contribution the sector makes.
“In the past year, members of the gold industry worked together to successfully resist calls for an increase in the gold royalty rate.
“We now have the opportunity to build on these efforts to ensure continued recognition for the important role played by our industry.”
Gold Road Resources chairman Ian Murray said gold should be seen as a currency, not just a commodity.
“It’s important for us to promote gold as an international and universally accepted investment,” he said.
“There is great potential for us to market this precious metal as a viable and reliable investment for superannuation and wealth funds.”
WA’s gold mines produce more than 70 per cent of Australia’s gold and the industry employs more than 20,000 West Australians.
More than 70 per cent of Australia’s gold royalties are paid to WA — more than $300 million in state royalties and taxes were paid in 2014.
Originally published as WA gold mining companies form Gold Industry Group to represent producers and explorers
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