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Friday, 22nd July 2005 (4282 views)

A new generation of miners are reportedly returning to the historic goldfields in Victoria, Australia, 150 years after the first gold rush.<br/><br/>The CSIRO estimates there are 5000 tonnes of gold still in the ground in the state and mining companies have moved into the famous gold rush towns of Ballarat and Bendigo and other sites to identify resources and start production.<br/><br/>Perseverance recently opened its Fosterville mine 20 kilometres east of Bendigo, on a site that was previously mined at the turn of the last century, the Australian Financial Review reports. The mine is expected to produce up to 120,000 ounces of gold a year, twice the gold previously mined each year in Victoria.<br/><br/>Ballarat Goldfields and Bendigo Mining are also reportedly planning a return to production in Victoria by excavating below old mine sites. Few mines in the early days of gold mining were deeper than 700m, due to problems with flooding.<br/><br/>Bendigo Mining managing director Doug Buerger explained that historical data from prospecting during the gold rush had been an invaluable resource, with much of the information discovered in the archives of the (Bendigo) Advertiser newspaper.<br/><br/>Ballarat Goldfields plans to begin producing gold by the end of the year, while Bendigo Mining expects to significantly increase the number of employees it has in the state.<img alt="track" src="http://feeds.directnews.org.uk/feedtrack/dn.gif?feedid=196&itemid=14013285"/>

 

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