Good as gold: High domestic gold prices have increased industry revenue

Higher domestic gold prices and global economic conditions have seen the Gold Ore Mining industry perform well over the five years through 2017-18. Gold ore mining is a well-established industry in Australia and it has grown solidly over much of the past decade. This growth has stemmed from price increases and gold's status as a counter-cyclical commodity, meaning that it is viewed as a safe haven asset during national and global economic uncertainty. Global expectations of higher inflation have kept global gold prices high by historical standards.A stronger global economy and reduced inflationary fears substantially reduced the world gold price from 2012-13 through 2014-15...read more.

Industry Statistics & Market Size
Revenue
$16bn
Annual Growth 13-18
4.4%
Forecast Growth 18-23
x.x%lock
Profit
x.x%lock
Employment
16,300
Businesses
555
Market Share of Companies

Industry Threats & Opportunities

  • Higher domestic gold prices have driven industry revenue and profit growth
  • Gold is considered a safe haven investment during periods of economic uncertainty
  • Falling gold prices are expected to push firms from the industry

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    Industry Report - Starting a New Business Chapter

    New gold mining firms face substantial entry barriers to the industry. These include the capital expenditure necessary to undertake exploration programs and fund mine development. Due to the high costs associated with developing and exploiting gold mines, many firms are publicly listed on the stock market to raise funds from shareholders. This can increase reporting requirements for firms to keep shareholders up-to-date with company developments. Furthermore, long lead times from exploration to mining gold increase risks and entry barriers for small operators. Lower ore quality than expected can increase processing costs and reduce margins, further raising risks and entry barriers for new gold mining companies. However, high ore quality can increase yield and profit margins...purchase to read more.

    Additional Insights for the Gold Ore Mining Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Gold Ore Mining Industry are

  • Availability of resource
  • Ability to forward sell production when appropriate
  • The age and type of the mine

    • IBISWorld analysts also discuss how external factors such as Domestic price of gold and Demand from gold and other non-ferrous metal processing in the Gold Ore Mining industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Gold Ore Mining Industry?

    Companies operating in the industry mine gold-bearing ore. Some firms also carry out gold ore beneficiation processes, which are basic and preliminary processes that occur prior to smelting and refining. This can be done through flotation extraction methods. Some companies dredge for gold or rework tailings for gold.

    Industry Products
  • Archaean lode gold dore bars
  • Recent lode gold dore bars
  • Copper-gold dore bars
  • Iron oxide copper-gold dore bars
  • Other gold dore bars
    • Industry Activities
  • Open-cut and underground gold mining
  • Gold dore bar production
  • Gold dredging and mining
  • Roasting and flotation extraction of gold ore
  • Reworking of tailings for gold
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • Domestic price of gold
  • Demand from gold and other non-ferrous metal processing
  • US dollars per Australian dollar
  • World GDP

    • Current Performance
  • Revenue and profit changes
  • Counter-cyclical asset
  • Gold mining trends
  • Chart: Revenue Growth

    • Industry Outlook
  • Revenue and profit
  • Production and projects
  • Growing larger
  • Table: Gold Ore Mining Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Gold Ore Mining Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Gold and Other Non-Ferrous Metal Processing
  • Audio Visual Electronic Equipment Manufacturing
  • Jewellery Manufacturing

    • Key Selling Industries
  • Basic Inorganic Chemical Manufacturing
  • Contract Mining Services
  • Mining and Industrial Machinery Wholesaling
  • Pipeline Transport

    • Products & Services
  • Archaean lode gold dore bars
  • Copper-gold dore bars
  • Recent lode gold dore bars
  • Iron oxide copper-gold dore bars
  • Other gold dore bars
  • Chart: Gold Ore Mining Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • Domestic gold processors and refiners
  • Export markets
  • Chart: Major Market Segmentation for the Gold Ore Mining Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Gold Ore Mining

    • Basis of Competition
  • Internal competition
  • External competition

    • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Gold Ore Mining Industry

    • Industry Globalization

    Major Companies

    Newmont Australia Holdings Pty Ltd, Newcrest Mining Limited, Gold Fields Limited, Evolution Mining Limited, AngloGold Ashanti Australia Limited,
  • Table: Newmont Australia Holdings Pty Ltd - financial performance
  • Table: Newcrest Mining Limited - financial performance
  • Table: Gold Fields Limited - financial performance
  • Table: Evolution Mining Limited - financial performance
  • Table: AngloGold Ashanti Australia Limited - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Gold Ore Mining Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Gold Ore Mining Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Gold Mine Output (2009-2023)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    Concentrate
  • A fine, powder-like product containing the valuable ore, from which most of the waste matter has been eliminated.
    • Dore Bars
  • Semi-processed gold bars containing approximately 80% to 90% pure gold. These are often made at processing facilities at gold mining sites and transported to refineries for further refining.
    • Heap Leaching
  • A process to extract gold from ore by dissolving it in a weak cyanide solution and then recovering the gold.
    • Open-Cut Mining
  • A type of surface excavation in the form of an inverted cone. The shape of the mine opening varies with the shape of the mineral deposit.
    • Troy Ounce
  • An imperial measure to weigh precious metals, which is still used for gold, platinum and silver. One troy ounce equals just over 31.1 grams.
    • What Our Customers Say
    Why buy this report?

    IBISWorld’s Gold Ore Mining market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
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    • Identify threats and opportunities
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    This report on Gold Ore Mining:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Gold Ore Mining market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Gold Ore Mining, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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