Thursday, 26th May 2005 (2984 views)

The resources minister for the government of Victoria, Australia, has reaffirmed the importance of gold mining in the state.

Theo Theophanus said that the re-emerging industry in the central part of the state should not be underestimated.

According to the minister, the Bendigo Mining operation will alone account for five per cent of the city's total economic activity when it reaches full production.

Mr Theophanus also said that extensive exploration programmes are under way in Heathcote, Maldon and Tarnagulla, supported by new technology.

"We started off with original estimates somewhere around ten years for these mines, but it keeps expanding out to 15 and 20 years and perhaps longer," Mr Theophanus told ABC Regional.

"Just in the Perseverance gold mine on its own, it will be producing around about 100,000 ounces of gold from mid-2005."

 

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