Gold

  • Australia is the world’s second largest gold producer.
  • Gold is our fourth highest value export commodity after iron ore, coal and liquefied natural gas.
  • The majority of Australia’s gold is exported to China, the United Kingdom, Hong Kong, Singapore and India.

Gold has been a store of wealth and valued for its decorative properties throughout time. Investment assets and jewellery continue to be the largest source of demand for gold. Other uses for gold include in electronics and industrial equipment, and a small amount for dental and medical uses.

India and China are by far the largest markets together accounting for over 50 per cent of current global gold demand, in volume terms.

Gold was discovered in Australia in the early 1800s and since then has contributed significantly to Australia’s economic and social development. It is a major contributor to Australia’s export earnings and provides employment in regional and remote areas. Australia has gold resources in all states and the Northern Territory. More than 45 per cent of Australia’s gold resources are held in five deposits—Olympic Dam and Carrapateena in South Australia, Boddington and Telfer in Western Australia and Cadia East in New South Wales.

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