The following are extracts from Media Releases on the Australian Gold Industry.

24 June 2012

Media Release highlights will be updated shortly.

22 February 2009

"This is the lowest annual production since 1989..."

"Despite the drop in production for 2008, the value of gold produced is higher ... at the current price of over A$1,500 per ounce, 2008 output would be worth more than A$10.5 billion."

"... it is timely to examine from an Australian perspective just where the benefits will flow..."

"In 1997, overseas control ... was around 20% but by 2003 it had reached around 70% and is currently about 60%..."

"While Australian investors did not value the local industry, others clearly recognised its potential..."

"Mining has always been an international business and there are many good reasons for this ... but at the same time Australia and Australian investors need to stay in the game, otherwise we may end up becoming merely tenants in our land, with little say in what happens to our mineral wealth."

23 November 2008

"Despite the lower output, the value of the gold produced has been increasing..."

"... the year to date had seen excellent results from some producers but ... several of the companies which had sought to redevelop older operations and found the going tough and some had not survived."

"Where would Australia's balance of trade be without our mineral and resources exports? ... Now is the time for the state and federal governments to re-examine the whole question of how best to encourage and support mineral exploration."

31 August 2008

"Although production has fallen, gold still remains a substantial contributor to Australia's exports with the value of the 2007/08 output at current prices being around A$7.2 billion."

"Investors in Australian gold companies should realise that it is the Australian gold price rather than the US dollar gold price that is of importance to local producers..."

4 August 2008

"Australian gold production exceeded that of South Africa in the final quarter of 2007 and the first quarter of 2008..."

"The average local gold price was almost double the average cash cost in the March quarter this year..."

1 June 2008

"Australian gold production dropped sharply in the first three months of 2008..."

"The primary cause of the sharp drop in output was the lower average grade of ore treated..."

"Not only do lower grades reduce gold output, they also increase the cash cost per ounce of gold produced..."

2 March 2008

"Although Australian gold production is steady the good news is that the price has increased substantially in the past couple of years..."

"We have already flagged the possibility of China overtaking South Africa as the number one producer for 2007, with Australia in third place followed by the US..."

9 January 2008

"The Australian dollar gold price set a milestone in early trading today when it broke through A$1,000 per ounce for the first time..."

"Hopefully, gold prices like these will provide a stimulus for domestic exploration and lead to further discoveries."

2 December 2007

"The Australian gold price reached an all time closing high of A$939 per ounce on 26 November and was even higher during the day... This occurred due to a combination of a higher US dollar gold price and a lower Australian dollar exchange rate."

"... it will be very interesting to see how the world's largest gold producing countries rank at the end of this year... It looks like China could overtake South Africa to become the world's number one producer for 2007... Australia will probably take third place, followed by the United States."

2 September 2007

"Gold production for the 2006/2007 year was little changed on the previous corresponding period at 251 tonnes."

"There are a number of recycled operations which are now coming back into production and building up to full capacity... It is encouraging to see the list of producers growing..."

"... from late July to mid August, the US dollar gold price fell by around US$20 per ounce... the Australian dollar exchange rate varied by more than 10 US cents... the Australian dollar gold price rose by around A$80 per ounce."

6 August 2007

"The total amount of gold held by the world's four major gold exchange traded funds (ETFs) rose to record levels last week... This suggests investors' interest in gold remains strong..."

"... ETFs offer a convenient and direct avenue of investment..."

27 May 2007

"Overall, the industry treated fewer tonnes of ore at lower gold grades in the latest quarter compared with the December quarter."

"... over the past two years, the Australian dollar gold price had risen 50%..."

"Higher gold prices can lead to lower gold production as mine operators reduce the grade of ore fed into their treatment plants, ... This allows them to extend the lives of their mines and extract as much of the gold in the ground as possible."

11 March 2007

"Australia has slipped from second to third place in the world ranking of gold producing countries..."

"... the emerging force in gold production is China and the next few years may well see quite a shakeup in the rankings."

26 November 2006

"The higher production this quarter was due to ten new or recycled operations starting up..."

"One of the outcomes of the higher Australian dollar gold price is that existing gold producers are taking the opportunity to treat lower grade ore."

"It takes about 16 tonnes of ore to produce just once ounce of gold which is about the same size as a small square of chocolate."

3 September 2006

"Australia's gold production in the 2005/06 year (is) the lowest production for any financial year in the last decade..."

"While gold accounted for around 60% of mineral exploration expenditure in the late 1990s, this figure has now fallen to around 30%."

"It's ironic really, that ever since peek gold production in the late 1990s there has been less commitment to gold production in Australia, yet that is what is absolutely essential for the long term sustainability of the local industry..."

7 August 2006

"Over a dozen new gold operations are joining the ranks of Australia's gold producers as the junior miners respond to higher gold prices..."

"A problem facing some of the small producers in the Kalgoorlie area is the lack of treatment facilities where parcels of ore can be processed on a toll basis."

28 May 2006

"Australian gold production declined sharply in the March 2006 quarter following heavy rain from six tropical cyclones and a tropical low."

"The Western Australian gold fields have been particularly hard hit this season."

"... wet weather causes operational problems (and) companies are often forced to keep their plants running by treating ore from low grade stockpiles."

"... cannot predict the future and therefore cannot predict what gold prices are going to do (but) a number of factors remain that could continue to push prices higher."

10 May 2005

"Gold prices broke through US$700 per ounce in international markets last night pushing the Australian dollar gold price above A$900 per ounce, its highest level ever."

"The Australian dollar gold price has risen A$100 per ounce in the last six weeks and more than A$200 per ounce... since the A$700 per ounce mark... on 30 December 2005."

28 March 2006

"The Australian dollar gold price broke through $800 per ounce in overnight trading, as a combination of a rising US dollar pushed the price... to an all time record."


5 March 2006

"Gold production totaled 263 tonnes last year (2005)..."

"More than a dozen additional gold mining operations are expected to commence production this year. This includes the long awaited Cowal mine in NSW, Ballarat East and Bendigo in Victoria and several smaller operations, mostly in Western Australia."

"The large number of projects under development is the result of discoveries and investment decisions made some time ago. Higher prices do not mean we can afford to neglect exploration."

The decision to adopt the equivilent of the International Financial Reporting Standards was criticised regarding hedging. "... the new standards were too inflexible and needlessly complicated the poorly understood subject of hedging and could deter investment in the industry."

31 January 2006

"The Australian dollar gold price is nearing its all time record of A$776 per ounce... the record has stood for 26 years."

"Gold prices have risen recently due to a number of factors. These include increased demand for gold from India, China and other developing countries, the possibility that some Central Banks will add to their gold reserves and concerns about Iran and its nuclear ambitions, the continuing rise of the US Government and trade deficits and rising inflation. At the same time, gold production in South Africa and other countries has fallen or remained stagnant."

20 November 2005

"Australian gold production declined once again in the September quarter... despite the lower output, the current high Australian dollar gold price is offsetting higher costs of production."

"... a number of new operations (are) slated for startup in the next few quarters..."

"What is most encouraging is the number of excellent drilling results being reported. Two Greenfields discoveries at Dalwallinu and Tropicana are particularly significant, as they each extend the Western Australian gold province into virgin territory."

28 August 2005

"Australian gold output for the full 2004/05 financial year (is) 265 tonnes."

"The June quarter was the worst of the four quarters in the financial year... A majority of the larger and medium sized established operations had lower gold output this quarter..."

"Many producers are reporting higher cash costs due to increases in fuel, consumables and labour charges."

8 August 2005

"Australia's status as the world's No. 2 is under threat... Australia displaced the United States as the second largest gold producing country after South Africa in 2003 and retained that ranking in 2004."

"We are now seeing the effects of years of inadequate investment in exploration in Australia... the Federal Government should be re-examining its taxation policies to make exploration for gold and other minerals more attractive."

29 May 2005

"The government does so little for an industry which provides such a large proportion of our exports..."

"... providing exploration incentives alone would give a considerable stimulus to the industry... "

"The Australian gold mining industry certainly does not face export bottlenecks... you could fly Australia's annual gold production out of the country in just three Boeing 747s (but) that would be unlikely with such a valuable cargo..."

6 March 2005

"The amount of gold produced in 2004 was the lowest since 1995..."

"The mining industry is the best hope of redressing Australia's appalling balance of trade..."

"To put it simply and say it yet again, Australia is just not spending enough on exploration... we are living on borrowed time - it's five years since the last significant greenfields gold discovery was made in Australia"

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