Australia has a very colorful history when it comes to precious metals.
It’s one of the world’s largest producers, after china, USA and South Africa and accounts for about 11% of world output.
The economic gold resource of Australia is just over 5,200 tons.
Australia’s resources arise in Western Australia, About 60%, with the remainder in all other States and the Northern District. Nearly all resources occur in primary guarantees, many of which have undertaken some degree of weathering.
Weathered principal deposits are essential to the gold industry because gold is easier to recover, and they are usually easier and cheaper to mine.
Furthermost of Australia’s gold production comes from open-cut mines. Large capability earth-moving equipment is used to get rid of waste rock from above the ore body and then to mine the ore. Ore and waste are blasted to break them into sizes suitable for management and transport to waste dumps or, in the case of the crusher and the ore.
Underground mining is used where the depth of the ore below the surface makes open-cut mining unprofitable. Declines and Vertical shafts are used to move equipment and people into and out of mine, to provide ventilation and hauling the ore to the surface and the waste rock.
Gold has long been a medium of investment and exchange. It is extensively used to create coins such as the Australian Nugget. Individuals and Financial institutions use gold as a store of wealth.