AUSTRALIA’S mining industry is in a state of flux as new technologies and mining developments come on stream, but there’s still plenty to look forward to for its industry and the nation’s mining infrastructure.
Here are five things to keep an eye out for in 2017.1.
Mining and gold prices, and how the market worksIn late 2016, gold and silver prices were at record highs, leading to a boom in the industry.
Gold prices hit an all-time high in January 2017 and silver rose over the summer months, with mining companies like Anglo American and Rio Tinto taking full advantage of the opportunity to get their hands on the mineral.
But gold prices have since fallen, while the silver market has remained largely flat.
Gold and silver price forecasts have fluctuated, with gold mining companies such as Rio Tungle in the United States forecasting a return to normal prices in 2017 and Anglo American predicting that gold prices will return to their previous highs.
The industry is currently in a position where it’s likely to see some significant price gains in the coming year, given the rapid increase in mining technology and investment.2.
New mining technologies and gold mining marketsAustralia’s mining and gold industries have had a tumultuous history.
In 2015, the Rudd government introduced a range of new regulations, including the introduction of a national minimum wage, an increase in the age of eligibility to apply for a job and the creation of a new “national mining strategy”.
At the time, the mining sector was still reeling from the collapse of the Australian mining industry following the 2008 Asian financial crisis.
The introduction of the new regulations and the subsequent mining boom has been blamed for the industry’s current troubles, and has caused many mining companies to seek out new markets for their assets.
Gold is a commodity that has become very valuable in recent years, with a gold price averaging around $1,300 per ounce during the 2017 trading session.
This has been aided by the introduction in 2018 of the Minerals Council of Australia (MCCA) Gold Index, which tracks the value of gold, platinum and palladium, and is intended to help gauge the state of the mining economy.
The MCCA Gold Index is a market-based index of global gold prices.3.
The rise of ChinaGold is currently the second most popular gold resource after Australia, and the industry is also seeing increased demand from China.
China has become the biggest producer of gold in the world, with more than a quarter of its gold reserves held in domestic and foreign mines.
China’s demand for gold is expected to continue to grow in the near future, with Chinese authorities reportedly planning to increase the amount of gold they will purchase from their gold mines.
A number of gold mining operations have reportedly been purchased by Chinese companies, including Anglo American, Rio Tanto and Rio Gold.
In 2017, Chinese investors bought over $3 billion worth of gold.4.
Global mining companies’ outlooksChina is the world’s largest producer of precious metals, and this is expected increase in demand from Chinese companies.
However, it is also likely to have a negative impact on the world market, with many of these companies facing severe financial constraints and a slowing economy.
As a result, the growth of the industry in the past few years has slowed, with the MCCA estimating the industry will be in recession by 2022.5.
The gold boom in Australia’s Northern TerritoryGold mining companies in the Northern Territory are seeing the demand for their precious metal soar in the years ahead.
Mining is booming in the territory, with Gold Fields Mining Corp. (GFCM) expecting a 40% increase in gold mining output in the next five years.
Gold Fields is a mining company owned by the Anglo American family, with Anglo American already operating in the Territory.
The company has invested $2 billion in the area, with another $1.5 billion planned for further expansion.
GFCM is currently a member of the Mineral Resources Council of the United Nations, which is an agency of the UN to protect the interests of all nations.