Gold mining in Victoria is booming with production at levels not seen in more than a century, supporting jobs growth and business strength – and the impact has been especially stunning in Stawell.
Minister for Resources Jaala Pulford visited Stawell Gold Mine to see how the mine 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.
Stawell Gold Mine’s return to production mirrors the rise of the sector statewide. In 2019-20 annual gold production in Victoria reached the highest yearly total since 1906, increasing by just on 40 per cent to almost 800,000 ounces.
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, the precursor to mining investment, growing in recent years. Australian Bureau of Statistics 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 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.
In October the Victorian Government announced the outcome of the North Central Victorian Goldfields Ground Release tender, which could see more than $100 million invested across northern Victoria.
Source: Vic Government