Mining Boom Lures Workers as Gold Price Hits $4,000

Gold miners are racing to build gold plants in Australia's Western Australian goldfields as the high price of the precious metal creates job opportunities. The demand for labor has been a key issue raised at the annual Diggers & Dealers Mining Forum, with many miners reporting high retention rates but struggling to find skilled workers.

According to Mark Zeptner, boss of leading gold producer Ramelius Resources, the current pace of plant construction is unprecedented. Normally, only two or three plants would be built in a year, but he predicts that up to 10 could be constructed in 2026.

Diggers chair Jim Walker urged the federal government to reinstate training packages for apprenticeships and trainees to reduce the cost to mining sector employers. He also suggested reinstating subsidies for large businesses with 200 or more employees.

The current gold price, hovering around $US4,000 an ounce, is a significant factor in the surge of plant construction, according to executives who spoke at the forum. Alkane Resources chief Nic Earner noted that once the all-in costs are cleared, every additional $1,000 rise in the gold price generates an extra $150 million in revenue.