Page 20 - Bullion World Volume 4 Issue 10 October 2024

Bullion World | Volume 4 | Issue 10 | October 2024

"Australia: Pioneering the

Future of Global Gold with

Sustainable Innovation"

Mr Nicholas Frappell
Global Head of Institutional Market, ABC Refinery

Australia is the third largest gold
producer on the planet, producing an
estimated 301 metric tons in 2023. With
no restrictions on gold exports, and
a relatively small domestic consumer
market, it is fair to say that Australia
has the largest flow of gold exports into
the wider world, and therefore has the
opportunity to effect change in terms
of ‘new gold’ that enters the physical
market and importantly to respond to
changes in consumer preferences.

Australia is one of a very limited number
of world-leading countries with powerful
degree of governance, labour and
environmental protections. Producers
also benefit from a range of positive
externalities, for example Geoscience
Australia.
Mr Nicholas Frappell
Geoscience Australia is a government agency that seeks to
map and understand all of Australia’s geology. Benefitting all
mineral exploration of course, the work of Geoscience Australia
has received significant additional funding under the current
government to promote a deeper understanding of Australia’s
mineralogy and this will benefit gold exploration and extraction in
the future.

Once exploration turns to production, miners here operate with
high levels of efficiency, with typical AISC (“All in Sustaining
Costs”) around the USD/Tozs 1,200 level. The industry also
benefits from a finance sector that is experienced and innovative
in commodity lending and risk management.

Turning to refining, the industry benefits from refiners such ABC
Refinery, which has invested heavily in reducing the chemical
footprint of gold refining, further increasing the international appeal
of Australian metal when gold consumers are increasingly aware
of the social, environmental and provenance impact of gold for
both ethical fabrication and investment.

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