Rising Gold and Copper Prices to Bolster Evolution Mining

The Diggers & Dealers Forum in Kalgoorlie heard from Evolution Mining managing director Lawrie Conway that rising gold and copper prices will enhance the company's position as Australia's cheapest producer.

Conway said that with the current American debt level of $US40 trillion and growing, central banks are moving away from the US dollar and investing in gold and copper with a sense of assurance that commodity prices will continue to rise.

One broker projection suggests that the gold price could double in two years.

Evolution Mining's current revenue split is 78% from gold and 22% from copper, with Ernest Henry's copper-gold production being a key contributor. The company recently acquired Carnaby Resources, which holds significant discoveries south-east of Mt Isa, further increasing its copper-gold production capacity.