Low gold resource inventory hangs over WA's head

摘要

The recent buoyancy of the commodities markets has masked some of the more immediate issues confronting the industry and its regulators, says Chamber of Minerals and Energy chief executive Tim Shanahan. ABARE estimates that at current rates of production, Australia's current gold reserves will only last another 15 years -provided a major discovery is not made in the meantime. Shanahan said this was "a concerning number" but was not surprised, given the cyclical nature of the industry, to hear an estimate that Western Australia only had roughly 12 years remaining in gold reserves that were currently planned to be mined.