Gold Giant Australia Is Firing Back Up A Record Exploration Boom



Gold miners in Australia -- set to leapfrog China next year to become the top producer -- are resuming a pandemic-disrupted exploration spree as prices surge amid a dearth of major discoveries.

“Gold does really well in volatile times, so my sense of this is we’re on the cusp of a fairly major boom,” said Rob Bills, CEO of Emmerson Resources, which plans to restart exploration drilling this week as the nation continues to ease Covid-19-related curbs. “Those companies that have got cash will turn the tap on fairly quickly.”

Spending on gold exploration in Australia rose to a new record in the final quarter of 2019, while the annual total of more than A$1-billion was about 20% higher than the previous year, according to government estimates.

( Image by https://pixabay.com/users/diegocadtrujillo0-1476994/ )