The takeover of the majority of the Australian gold industry by the world's biggest producers has had a devastating effect on the level of exploration in much of Australia. But Victoria, with its rich history of major gold fields and outstanding potential for major new discoveries is attracting an increasing share of the national exploration budget. Unprecedented interest in reviving gold production from regions like Ballarat and Bendigo is driving the new mood of enthusiasm. Recent discoveries of world scale mineral sands deposits in the Victorian portion of the Murray Basin has also helped to heighten interest in the broader mineral potential of the state.
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