Exploration spend will be WA royalty hike’s first casualty

Western Australian gold miners have warned the state government that an increase in gold royalties would not only result in massive job losses across the state, but could also jeopardise the future of the sector as less money will be put towards exploration. Speaking at a round-table in Perth on Wednesday, Gold Fields CEO Nick Holland said that exploration was a big item of expenditure for the company, which produces about 920 000 oz/y of gold from Western Australia alone.