Leading producers of gold in Australia are
Cadia Mine in New South Wales, was the largest gold-producing mine in Australia, producing approximately 764.9 thousand ounces of gold and an estimated 32.5 million metric tons per annum (mmtpa) of Run-of-Mine (ROM) in 2021.
About 60% of Australia's gold resources occur in Western Australia, with the remainder in all other States and the Northern Territory. Virtually all resources occur in primary deposits, many of which have undergone some degree of weathering.
Mount Whaleback Mine in Western Australia, was the largest mine in Australia, producing approximately 88.8 million metric tons per annum (mmtpa) of Run-of-Mine (ROM) in 2021. The Mount Whaleback Mine is owned by BHP;Mitsui & Co Ltd;Itochu Corp, and is due to operate until 2037.
Australia exports its gold to more than 55 countries. Australia is the second largest gold producer in the world, and production is projected to rise at an average of 6.8% between 2022 and 2025, reaching 390 tonnes per annum.
The five biggest gold mines, for example Cadia Mine, Boddington Mine, Tanami Gold Mine, Telfer, and Cowal Gold Mines produced a combined 2.89m ounces of gold from 79.76 mmtpa* of ROM in 2021. Image courtesy of Kalgoorlie Gold CM.
Australia does not prevent the private ownership of any minerals found in the land. At one time if individuals were to discover gold (or any other minerals) in their property, it would belong to the Crown, being the Australian Government and not to private entitlement.
Hancock Prospecting executive chairman Gina Rinehart took out the top spot with a net worth of $30.6 billion, followed closely by Fortescue Metals executive chairman Andrew Forrest.
Located in the Sudirman Mountains of the Irian Jaya province of Indonesia, the Grasberg complex is one of the largest gold and copper mining operations in the world.
Australia is estimated to have the world's largest gold reserves, with 9,500 tonnes or 17 per cent of the total world estimated gold reserves of 57,000 tonnes.
The United States has the largest gold reserve, with more than 8,000 metric tons of gold. This was more than twice the gold reserves of Germany and more than three times the gold reserves of Italy and France.
It's also home to the Golden Triangle, where the richest, purest gold has been found. The Golden Triangle is a region in northeastern Victoria, Australia that is known for the richest gold deposits.
Kalgoorlie, Western Australia
Around three quarters of gold mined in Australia is in this area and the 'golden mile' was once considered the richest square mile of land on earth. Prime time is autumn and spring and it's best to head out with a guide.
The Perth Mint is the world's largest processor of newly mined gold and highest volume refiner in Australasia.
The most pure type of gold is 24k gold. This highest karat of gold is not used in jewelry as much as one may think due to the 24k gold's ability to bend easily because of its softness. This quality makes it less desirable in jewelry that you want to wear daily, such as an engagement ring or bracelet.
The country with the purest gold in the world is Switzerland, a country known for paying attention to quality. Below, the precious metals experts from First National Bullion and Coin, the best place to buy gold in Scottsdale, explain why this particular country has an affinity for pure gold.
Demand for Australian gold was largely dominated by India and the United Kingdom in 2010, accounting for 36.8 per cent and 35.9 per cent of total gold exports respectively. India is a fast-growing market for Australian gold, as the country's increasing wealth means more Indians can afford gold jewellery.
Almost the entirety of the RBA's physical gold holdings (99.9 per cent) is stored in the United Kingdom at the Bank of England (BoE). The BoE holds the RBA's gold as bailee; legal and beneficial title to the gold remains with the RBA. A very small amount of gold is stored at the Reserve Bank's head office in Sydney.
Australia imports Gold primarily from: Papua New Guinea ($1.56B), United States ($842M), Laos ($662M), New Zealand ($493M), and Cote d'Ivoire ($461M). The fastest growing import markets in Gold for Australia between 2020 and 2021 were Laos ($507M), Cote d'Ivoire ($323M), and United States ($288M).
Water in this river is acidic.” According to the Mineral Policy Institute, a national body of mining experts and sustainability focused community members, the acid mine drainage (AMD) from Mount Morgan, which operated for 99 years until 1981, is Australia's largest and most polluting mining legacy.