New Gold Industry Group forms to represent gold sector interests
THE CONFERENCE CALLER: Western Australian gold miners made a lot of people get out of bed early on day two of the Diggers & Dealers conference in Kalgoorlie.
The reason for the early call to arms was to attend the launch of a new dedicated group to promote and champion the gold industry.
The group is basically an adjunct to the ensemble, which fronted the Heart of Gold campaign that rallied against the Western Australia government thought bubble to raise god royalties.
The new Gold Industry Group, is to be chaired by former WA Minister for Mines, Norman Moore, who will take on the responsibility to represent the interests of gold producers, explorers, prospectors and the companies which serve the sector.
“WA is the heart of Australia’s gold industry and ensuring the long term sustainability and strength of the industry is vital,” Moore told the crowd who had gathered for the announcement.
“By working together, gold miners will be able to promote the industry and ensure all Western Australians understand the significant social and economic contribution the sector makes.”
Moore outlined the Gold Industry Group’s charter, which will be to advocate on gold-specific issues, champion gold-related educational and community initiatives and promote gold as an investment and asset class.
“In the past year, members of the gold industry worked together to successfully resist calls for an increase in the gold royalty rate,” he said.
“We now have the opportunity to build on these efforts to ensure continued recognition for the important role played by our industry.
“The Gold Industry Group will provide a single, united voice for the industry in Western Australia and I look forward to working to raise the profile of this vital sector.”
The founding members of the WA chapter of the Gold Industry Group include Gold Fields, Gold Road Resources, Doray Minerals, Norton Gold Fields and Ramelius Resources.
Chairman of Gold Road Resources, Ian Murray, said the Group would acknowledge the unique status of gold, not just as a commodity, but also as a currency.
He stressed to the industry types in the crowd the importance to not only market their own gold mining companies when spruiking at events, but to also start marketing the purchase of physical gold, especially by fund managers and super funds.
“It is important for us to promote gold as an international and universally accepted investment,” he said.
“There is great potential for us to market this precious metal as a viable and reliable investment for superannuation and wealth funds.
“As the result of being a single commodity group we will have a dedicated focus and a deliberate marketing strategy for gold.”
According to a release from the Gold Industry Group, WA’s gold mines produce more than 70 per cent of Australia’s gold and directly employs more than 20,000 Western Australians.
In 2014 gold was the second most valuable mineral in Western Australia with production sales of $8.7 billion.
Gold is the state’s third largest export industry, totalling $13 billion in exports last year.
More than 70 per cent of Australian gold royalties are paid to the Government of Western Australia and in 2014 more than $300 million in state royalties and taxes were paid.
About the Gold Industry Group
The Gold Industry Group is a single commodity, member-based, independent industry body governed by a Board of Directors.
The group claims to represent the interests of gold producers, explorers, prospectors and suppliers in Australia to achieve a united voice for the gold industry.
The Group outlined its activities and services will specifically support the gold industry to:
Promote gold’s importance and its significant contribution to the community and economy;
Advocate on gold-specific issues with government;
Champion gold-related educational and community initiatives; and
Profile of gold as an investment and asset class.
For more information visit: www.goldindustrygroup.com.au