Gold exploration spending needs to double, report finds

Original article by Peter Ker
The Australian Financial Review – Page: 18 : 16-Oct-17

Australia’s gold production totalled 9.7 million ounces in 2016, but a report from Minex Consulting warns that a big rise in exploration expenditure is needed to avert a sharp downturn in production within five years. The Office of the Chief Economist is also bearish about the outlook for the nation’s gold sector, forecasting that the value of gold exports will fall to $A17.1bn in 2017-18 and $A16.9bn in 2018-19. This compares with around $A18bn in 2016-17.

CORPORATES
MINEX CONSULTING PTY LTD, AUSTRALIA. OFFICE OF THE CHIEF ECONOMIST, LIBERAL PARTY OF WESTERN AUSTRALIA

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