... is the nation’s 6th largest export earner ... earned $14 billion of export revenue in 2014-15 ... is the 2nd largest producer of gold in the world

Capital expenditure


As at April 2015, one major gold mining project was at an advanced stage (committed or under construction) with a total capital expenditure of $246 million. There were 16 projects at a less advanced stage (publicly announced or undergoing feasibility studies) with an estimated total capital expenditure value in the range of $2.9 – 3.9 billion.

Chart 1: Estimated value of advanced and less advanced gold projects

Source: Department of Industry and Science

According to the Department of Industry and Science, a total of 65 gold mining projects were completed between January 2002 and April 2015. The combined capital expenditure was more than $12.4 billion.

Chart 2: Number of completed projects and total capital expenditure

Source: Department of Industry and Science

List of completed gold projects since January 2002

Time Period Project Location Company Capex $m
Jan – Jun 02 Ridgeway NSW Newcrest 376
Granny Smith Extension WA Placer Dome/Delta 150
Sunrise Dam Megapit expansion WA Anglo Gold 106
Murchison WA Menzies Gold NA
White Foil WA Cogema/Aurion Gold NA
Jul - Dec 02 Challenger SA Dominion Mining 17
Thunderbox WA LionOre/Dalrymple 65
May - Oct 03 Chariot NT Giant's Reef 16
Nov 03 - Apr 04 Siberia WA Siberia Mining NA
May - Oct 04 Frog's Leg opencut WA Dioro/Mines & Resources 13
Nov 04 - Apr 05 Cracow QLD Newcrest/Sedimentary 89
Daisy - Milano WA Perilya NA
Fosterville VIC Perseverence 99
Stawell expansion VIC Leviathon Resources 10
St Ives WA Gold Fields Australasia 125
Telfer redevelopment WA Newcrest 1400
May - Oct 05 Paulsens WA NuStar Mining 31
Nov 05 - Apr 06 Ballarat East VIC Ballarat Goldfields 65
Cowal NSW Barrick Gold 510
Raleigh underground WA Placer Dome/Tribute Resources /Rand 52
Twin Hills QLD BMA Gold 22
May - Oct 06 Bendigo VIC Bendigo Mining 127
Coyote WA Tanami Gold 15
Oct 06 - Apr 07 Charters Towers (Warrior desposit) QLD Citigold Corporation 50
Laverton redevelopment WA Crescent Gold 15
Apr - Oct 07 Bronzewing redevelopment WA View Resources 30
Mount Wright (feed for Ravenswood Operation) QLD Resolute Mining 25
Wallaby underground extension WA Barrick Gold 35
Sunrise Dam underground development WA AngloGold Ashanti 109
Oct 07 - Apr 08 Perseverance (Coolgardie gold project) WA Focus Resources/ Committee Bay Resources 3
May - Oct 08 Leonora (inc Gwalia Deeps) WA St Barbara Mines 144
Higginsville Gold Project WA Avoca Resources 120
Frog’s Leg underground WA LaMancha Resources/ Dioro Exploration 80
Hillgrove NSW Straits Resources 30
Oct 08 - Apr 09 Ballarat East VIC Lihir Gold 120
Bendigo (Kangaroo Flat) VIC Bendigo Mining 300
Wiluna WA Apex Minerals 62
Nov 09 - Apr 10 Boddington WA Newmont 3400
Brightstar WA A1 Minerals 10
Challenger expansion SA Dominion Mining 18
Paddington (Homestead underground) WA Norton Gold Fields 13
Ridgeway Deeps NSW Newcrest 505
South Laverton Project WA Saracen Mineral Holdings 22
White Dam SA Exco Resources/ Polymetals Group 24
May - Oct 10 Randalls (phase 1) WA Integra Mining 64
Duketon Gold Project WA Regis Resources 73
Edna May WA Catalpa Resources 92
Super Pit WA Newmont/Barrick Gold NA
May - Oct 11 Leonora (King of the Hills) WA St Barbara 20-25
St Ives (Athena underground) WA Gold Fields 100
Nov 11 - Apr 12 Mt Magnet WA Ramelius Resources 28
Woods Point VIC Morning Star Gold 32
Apr - Oct 12 Cosmo Deeps NT Crocodile Gold 30
Duketon (Garden Well) WA Regis Resources 109
Murchison WA Kentor Gold 15
Nullagine Gold project WA Millennium Minerals 87
Nov 12 – Apr 13 Cadia East NSW Newcrest 1900
Carosue Dam (Red October) WA Saracen Minerals 40
KalNorth (Lindsay's) WA Kal North 70
Meekatharra Gold Project WA Reed Resources 36
Mt Carlton (Silver Hill) QLD Evolution Mining 180
Murchison WA Silver Lake 70
Apr - Oct 13 Andy Well WA Doray Minerals 55
Tropicana Joint Venture Project WA AngloGold Ashanti/Independence Group 845
Nov 13 – Apr 14 Tomingley (Wyoming) Gold project NSW Alkane Resources 116
Apr - Oct 14 Hera NSW Aurelia Metals 73.5

Source: Department of Industry and Science