Gold Mining Loses its Luster from Lack of Domestic Exploration.

The article reports on the issues concerning the economic growth of gold mining industry in Australia. Gold serves as a commodity and an investment asset in the mining sector. The country is the world's largest gold producer in South Africa. Its production figures have matured and produced lower ore grades and failed to be replaced by newer projects of comparable significance. The author provides a graph depicting the condition in world gold production. Tony Palmer, managing director of Newcrest Mining Ltd. describes the characteristics of gold mines as small and with short life in comparison to the huge coal or iron ore deposits.