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New WA gold mine boosts investor confidence

Bill Marmion

Bill Marmion
Minister of Mines and Petroleum; Housing

Mines and Petroleum Minister Bill Marmion has commended the opening of a new gold mine by Norton Gold Fields, one of Australia’s largest domestic gold producers, in Ora Banda near Kalgoorlie-Boulder. He said the opening of the $110million Enterprise Mine demonstrated continued confidence in the sector by the Chinese-controlled mining company.

From November, the mine will begin producing approximately 110,000 ounces of gold a year and employ 80 staff for the next five years. Mr. Marmion said: “This move solidifies Western Australia’s reputation as a global mining investment destination, and I welcome Norton Gold Field’s position as a long-term WA gold miner.”

“While the price of gold has taken a modest drop during the past year, the current price is still around 60 per cent higher than the 10-year average – something that is certainly driving development like this from Norton Gold Fields.”

The Enterprise Mine will supply the bulk of the ore to the company’s 3.3 million tonnes per annum Paddington Mill. Gold was WA’s second most valuable mineral sector in 2012, reaching $9.4billion in sales – a 6 per cent increase from 2011.