Western Australian gold exploration at 30-year high

Source: Xinhua| 2018-09-06 13:38:53|Editor: Yamei
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SYDNEY, Sept. 6 (Xinhua) -- Gold has been one of Australia's main exports since it was first discovered in 1851, and the shiny yellow metal has not yet lost its appeal, with gold exploration at a 30-year-high in the state of Western Australia.

Australian Bureau of Statistic figures showed that explorers in Western Australia spent 116 million U.S. dollars in the latest quarter searching for gold, an 18 percent increase on the previous period, and the highest level since reporting began in 1988.

Association of Mining and Exploration Companies chief executive Warren Pearce told Xinhua on Thursday that the figures gave evidence to what has been sensed in the industry for some time.

"The statistics prove out what's been anecdotal in the sector, we've known this stuff's happening," Pearce said.

"On the whole it means there's a big piece of activity happening that hopefully will turn into significant new projects being developed."

In response to an encouraging global price, companies and investors have been spurred to spend the vast amounts of money to locate gold in the expanse of West Australia's desert.

"There's a range of things they'll do including aerial surveys or electro mag, so things that can look through the ground and give an idea of what the geology is," Pearce said.

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