A rare goldmine in the South West of Australia is set to be the largest ever mined in the region
Posted November 12, 2018 12:08:30 A rare Goldfields gold mine in the south-west of Victoria is set for a major boost as it is the largest gold mine ever mined there.
The State Government is to invest $2 billion to expand the existing copper mine, and a new copper mine is planned for the town of Dungur.
The $2.4 billion investment is part of the $6 billion package to boost the South Western Goldfields area.
The mine is being funded through a $2 million loan from the State Government.
It will be the biggest gold mine, known locally as the Dungu, in the world.
Its estimated output of gold is $300 million a year.
The town of East Dungubin is also set to benefit from the investment.
Its population is estimated at 6,500 and it is known as the ‘gold mine’ because of its copper mine.
The Government said the new mine will have a potential of $1.2 billion a year in revenue and create 100 new jobs.
It said it would also bring jobs to nearby communities such as Dunguru and Dungun.
Local politicians welcomed the investment, saying it would boost the local economy.
Local MP Mike Smith said he was excited to see the project progressing.
He said the Dangur town would benefit from it and that the project would create jobs for locals and tourists.
“This is a big step forward for the local people, for the Dongs and the Dunnums in the Dongu Valley,” he said.
The mining operation is being set up by the SouthWest Goldfields Council, with the support of the state Government.
The council will have to secure state and federal approvals to begin work.
The SouthWest is currently the largest copper mine in Australia, with $5.3 billion worth of gold and silver.
It has produced about 30 million tonnes of gold over the past 25 years.
State Treasurer Scott Emerson said the project was a welcome boost for the Goldfields region.
“We have invested $1 billion into the South-West Goldfield project and are now on track to have a significant impact on the region,” he told the ABC.
“The community of Dongs is now growing, as the mining boom continues and new opportunities arise for the region.”
The investment will also provide jobs for local people and help local businesses that will support the economy in the long-term.
“The State Goldfields council was established in March 2018, with Mr Emerson saying it had invested more than $3 billion over the last six years.
Its a significant investment that will create hundreds of jobs in the community,” he added.