March 23, 2023


Stock development

Australia vs Terramin’s. Gold mine permit rejected

SA Government rejects Bird in Hand gold mine project - Mining Magazine

Australia has an area that is rich in gold. More people are starting to sell gold scrap jewellery because of it. Now Australia has submitted an application for a gold mine permit to increase the production of gold even more and to increase the gold price. However, the permit wasn’t approved. The question is now why because there are many gold buyers Brisbane that is looking for a good gold investment. There are many benefits that the mine would bring, like better gold prices, but it won’t happen. The good thing is that you can still sell your scrap gold so that it can be used again.

The South Australian Minister of Energy and Mining has declined the application for the new underground mine. The reason for the rejection is because of the potential socio-economic and amenity impact that the mine will have and the effect it will have on the existing industries.

Regulations with Australian mines are strict.

Any mine, including a gold mine, is undergoing a comprehensive government evaluation before a mine can be approved. The evaluation also includes an eight-week public consultation to hear everyone’s complaints about a mine in the area. The result of the evaluation was that there can be a potential long-term impact on surrounding businesses, and wineries and even have a negative impact on the associated regional tourism.

In his statement, he said that tourism in the region is crucial and they can’t do anything to jeopardize that. He stated that he can’t risk the economy suffering from the proposed new mine. Even if the mine is rich in gold.

Why does it affect everyone with the mine not operating?

Why should it matter to you that the mine was declined by the government? With the mine not operating, new gold will not be mined. Making the shortage of gold in the area even more problematic. There is something that you can do about it. You can start selling unwanted gold jewellery to gold buyers so that the shortage of gold can be limited.

You might think that you only have a couple of ounces of gold, but every bit counts. If everyone is selling one ounce of gold, to gold buyers, just think how much gold will be saved. The question that many still have is what type of gold can you sell to gold stores? You can sell anything like:

  • Gold jewellery heirlooms that you don’t want or need anymore
  • Any piece of gold jewellery. The purer the gold the more you will get for the piece
  • Even, broken jewellery, gold earrings where the one got lost
  • Anything that is made from gold is accepted by the gold stores.

Yes, the mine everyone in Australia talked about was rejected. Meaning that no gold mine will be allowed in Woodside. Some people might be glad about the outcome, but this can have a negative influence on gold production in Australia. If you are worried about production, there is one thing that you can do about it. Sell your scrap gold jewellery or jewellery that you don’t want anymore to gold buyers Brisbane. They will be able to reuse the gold, assisting the economy to be more successful with their gold production.