Industry Analysis & Industry Trends
Ongoing concerns about conditions in global financial markets and tension in the Middle East have added to gold's lustre. These trends have renewed investor interest in the metal, which has resulted in a rising gold price. The Gold Ore Mining industry is expected to generate revenue of $13.3 billion in 2012-13, compared with $7.96 billion in 2007-08, yielding annualised growth of 10.8%. Industry revenue is forecast to fall by 1.9% in 2012-13, as lower gold prices (in Australian dollars, adjusted for inflation) more than offset increased output. Gold prices (in both US dollars and Australian dollars) are expected to ease during the year as concerns over the eurozone debt crisis start to recede. The industry's share of GDP in 2012-13 is expected to be... purchase to read more
Industry Report - Industry Products Chapter
The Gold Ore Mining industry produces only one major product: gold. Most of Australia's gold production comes from open-cut mines.
In open-cut mines, large capacity earthmoving equipment is used first to remove waste rock (often referred to as overburden) covering the gold bearing ore, and then to mine the ore. The ore and overburden are blasted to break them into sizes suitable for handling and transport. The ore is moved to a crusher, while overburden is taken to a waste dump. Underground mining is used when the ore is located so far below the surface that open-cut mining is uneconomic... purchase to read more