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MCA releases new report Golden: The Rise of Industrial Gold

The Minerals Council of Australia is proud to announce the release of its latest publication, Golden: The Rise of Industrial Gold, launched in Melbourne today by Tom Palmer, the President and CEO of Newmont.

This comprehensive report explores the transformative impact of gold across a wide range of modern and emerging industries, highlighting its essential role in high-tech electronics, advanced medicine, industrial nanotechnology, and its ongoing contribution to the Australian economy. 

Gold’s unique properties, including unparalleled malleability, conductivity, and resistance to corrosion, have made it an invaluable asset in the evolution of technologies at the forefront of human progress.  

Golden delves into how these properties are harnessed in various applications, proving gold’s significance far beyond traditional uses. 

Australia’s relationship with gold is both historic and dynamic.  

Gold mining has profoundly influenced our nation’s development, contributing to economic growth and shaping our identity on the global stage.  

In the 2022-23 financial year, Australia’s gold exports generated $24.4 billion in revenue, underscoring the precious metal’s economic importance. 

Today, gold’s role extends beyond wealth storage and jewellery.  

It plays a critical role in space exploration, telecommunications, and advanced manufacturing, demonstrating its value across millennia.  

In electronics, gold is indispensable for efficient electrical signal transmission in the circuitry of the world’s most sophisticated devices.  

In modern medicine, gold’s biocompatibility and inertness make it a key player in diagnostics, drug delivery systems, and cancer treatments. 

Golden illuminates how gold’s industrial applications contribute to modern innovation, often working behind the scenes but playing a crucial role in our future.  

The book emphasises that in modern Australia, the gold industry is thriving and pivotal to the nation’s economic fabric.  

Home to the world’s largest known gold resources, Australia is at the forefront of meeting global demand for this precious metal. 

Gold is Australia’s third-largest mineral export and a key contributor to our merchandise trade.  

The gold industry directly employs about 26,000 Australians and supports an additional 55,000 jobs indirectly.  

These skilled workers navigate complex geological terrains, push technological boundaries, and ensure that Australia remains at the cutting edge of sustainable mining practices. 

However, the path forward is not without challenges. Golden addresses the need to harness the full potential of Australia’s gold industry by overcoming investment barriers and fostering an environment conducive to innovation.  

This includes streamlining regulatory approvals and enhancing international competitiveness to ensure the industry’s sustainable growth and continued contribution to the global economy. 

Golden: The Rise of Industrial Gold offers a comprehensive look at the multifaceted role gold plays in shaping our world.  

It is a story of enduring value, innovation, and progress.  

By harnessing opportunities to support this industry, we can ensure that gold mining continues to drive us towards a more prosperous, technologically advanced, and interconnected world. 

Download a copy of Golden: The Rise of Industrial Gold.