WA Gold Rush: $1.57 Billion Spent on Exploration Amid Surging Metal Prices

A gold rush is underway in Western Australia, according to figures released by the Australian Bureau of Statistics (ABS), which show $1.57 billion spent on exploration in the region alone.

This comes after the Australian dollar gold price hit an all-time high of $7,688/oz in January, with prices currently trading at around $6,236/oz.

Topdrill, a drilling company based in Kalgoorlie, is experiencing 'unprecedented demand' amid this boom in mineral exploration, with the company set to take delivery of its 43rd drill rig in the coming weeks.

Founder Tim Topham said the flow-on effects of Trump's behaviors and the gold price boom have led to this surge in demand, calling it a 'pretty exciting time'.