WA 'gold rush' set to continue into 21st century

15/3/95

Premier Richard Court says Western Australia's 'gold rush' of the past decade is set to continue well into the 21st century, provided reasonable access to land for exploration and mining remains in place.

Mr Court, speaking at the opening of the gold conference in Kalgoorlie today, said that the discovery of new ore bodies, the relatively low cost of mining operations, political stability and growing demand, particularly from the Asian region, pointed to a positive future for the State's gold industry.

"Last year, WA produced 194 tonnes of fine gold valued at $3.4 billion - three-quarters of the nation's production - and made gold our top export earner," he said.

"Our production has increased eightfold in the last 10 years and our output is forecast to increase still further.

"Only yesterday I attended the official opening of the Bronzewing mine near Leinster - a development that opens up an exciting new mineral region for WA, the Yandal Greenstone Belt."

Mr Court said Bronzewing was the latest in a series of major new gold projects to 'come on stream' in recent times - including the Big Bell Underground, the Bounty Expansion, Kanowna Belle Stage 2 and the Youanmi Underground.

"Companies have the confidence to invest in our gold industry and as a Government we have pursued policies which have facilitated this growth and development," he said.

"For example, we have introduced legislative changes which allow a fixed four-year term for prospecting licences, the extension of an exploration licence when continued exploration can be justified, and continuous underground mining shifts.

"These have gone a long way to meet industry demands."

Mr Court said the State Government had also specifically targeted the single largest input to minerals processing in WA - energy prices.

"We have introduced competition to the energy market through the splitting of SECWA and, perhaps most importantly for the gold industry, encouraged and approved the construction of the $400 million Goldfields Gas Pipeline," he said.

Mr Court said the strong growth in the State's gold industry was being matched by demand for the finished product, particularly from the fastest-growing gold market in the world - Asia.

"I have recently returned from Hong Kong and China where the demand for gold is high and there was strong knowledge and interest in WA's gold industry," he said.

"Our gold industry is going forward in leaps and bounds and as a Government we are keen to protect and support its role in WA's economic resurgence."