During the first half of 2021, Australia extracted over 157 tonnes of gold, emerging as the leading gold producer.
Western Australia remains the centre of the Australian gold industry with over AU$1.1-billion investment in gold exploration in 2020-21.
Tempest utilises a data-driven, focused and risk-weighted exploration and development approach to its diversified mineral projects.
Currently, Tempest focuses on advancing drilling at the Euro gold and base metals project.
Australia has clinched the top spot among all gold producing countries dethroning China. During the first half of 2021, Australia extracted over 157 tonnes of gold overtaking the Asian country as the leading gold producer. The news drew global attention towards the Australian gold industry. As per the Resources and Energy Quarterly September edition, gold production in Australia is anticipated to grow by a massive 15.7% to 372 tonnes in 2021-22.
Robust production from existing mines and new mining operations and expansions will enhance the gold mine production to 378 tonnes in 2022-23. The report further anticipates London Bullion Metal Association (LBMA) gold prices to an average of 0.9% higher at AU$1,785 an ounce in 2021.
Western Australia remains the centre of the Australian gold industry with over AU$1.1-billion investment towards gold exploration in 2020-21, almost 70% of the entire nation. The existing gold supply would be required to be complemented by new large- and high-grade discoveries and the expansion of the existing gold operations in the future. In this article, we will look at one of the possibly significant contributors to the future Australian gold industry.
An Ace in the making: Tempest Minerals
Tempest Minerals Limited (ASX:TEM) is a premium minerals exploration company with a diversified portfolio of premium, precious, base and energy metals projects in Western Australia. The company relies on and values the 3P mix of – People, Projects and Potential. The explorer benefits from the energy and acumen that the management and the technical team at Tempest possess and utilise it via a data-driven, focused and risk-weighted exploration and development of the assets.
To read more on the management at Tempest: Read Here
Strong track record of successful exploration and profitable divestments – Tempest, erstwhile Lithium Consolidated Mineral Exploration Limited (Li3), listed on the Australian Securities Exchange (ASX) in the year 2017 with the objective of tapping the burgeoning battery mineral opportunity. The goal remains a part of Tempest’s core mission towards sustainability today.
The company went on to acquire numerous lithium projects across three continents and was complemented by successful exploration and investment exits, generating profits for the company and its investors.
In 2020, Lithium Consolidated was rebranded to Tempest Minerals to align with the broad and wider vision of pursuing diversified commodities, allowing the company to dynamically approach newer and prospective mineral projects.
Source: Tempest Minerals Website
Tempest is pursuing diversified opportunities at its premium suite of projects at Yalgoo and Mount Magnet regions of Western Australia.
Source: Tempest Minerals Presentation September 2021
The company owns over a 900km2 area in highly prospective Yalgoo region. The Meleya project includes previously unrecognised extensions of important geology, including world-scale Golden Grove Au-Ag-Cu-Zn mining operations. The company also plans to undertake a drilling program at the Meleya project shortly.
The War West project covers a multi-kilometre alteration package, associated with an intrusive gold system. Another major opportunity has been realised at the Euro project, which occupies a significant portion of the underexplored Yalgoo Greenstone Belt hosting the multi-million-ounce Rothsay gold-copper mine and the Karara and Shine iron ore mines. Currently, Tempest is focused on advancing drilling at the Euro gold and base metals project.