Both the Northern Territory and North Queensland have considerable untapped potential for gold mining. As governments seek to foster mining in these regions, there is now a golden opportunity for exploration and development.
New projects underway may shift the gold mining focus in Australia in the coming years, providing an opportunity for local economies and investors.
Western Australia produced 211.22 tonnes of gold in 2023, while the rest of the country produced just 80.73 tonnes.
Other regions in Australia have considerable gold reserves and potential for industry growth — especially the north. North Queensland has a long history of mining, with explorers finding gold there in the 1860s, which attracted international attention. Historical mines now serve as tourist destinations, with recreational fossickers frequenting the region.
Northern Territory has produced 20 million ounces of gold to date. Annually, the region’s gold production as of 2022/23 was at 13.7 tonnes and worth AUS$1.21 billion.
The area boasts three historic goldfields: Pine Creek, Tennant Creek and Tanami.
In the Northern Territory, Far Northern Resources is developing the Bridge Creek project in the historical mining area of Cosmos Howley-Pine Creek. The company has plans for exploration and development at the project’s target sites.
Gold mining in Australia is becoming much more of a nationwide endeavour. The country’s less populated northern reaches are home to considerable untapped gold reserves. The political will to develop these regions is leading to more attractive environments for mining development. A wide range of gold and polymetallic mining projects are underway and seeking investor support amid this new, attractive landscape.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
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