A record Rs 13 thousand crore has been spent in one year to explore new gold mines in Australia. Here is the world’s largest gold reserve. In such a situation, Australia can become a new supplier of gold to India in the coming time. At present, India imports most of the gold it needs, while Australia’s share in total imports is only 2.27%. Gold Rush in Australia, demand for drilling machines increases. Rs 10,625 crore has been spent in Western Australia alone. Here the demand for drilling machines to search for gold is also increasing rapidly. This race to find new gold mines is being called ‘Gold Rush’. It is estimated that about 13 thousand tonnes of gold is present here. This is about 20% of the total gold resources present in the world. The pace of gold exploration is also important for India. India’s share in the total demand for gold jewelery in the world is said to be around 30%. Gold production in India is very less. Therefore, to fulfill its needs it has to buy gold from other countries. In the first quarter of 2026, India imported gold worth about Rs 1.61 lakh crore. Bhaskar Analysis: Why are companies investing money in gold exploration? 1. Demand for gold increased due to war and uncertainty. Gold prices have increased due to war and economic uncertainty in the world. At such a time, investing in gold mines can be beneficial for companies. This is why they are spending more money on finding new gold reserves. Spending on gold exploration in Australia increased by 23.6% in the June 2026 quarter. 2. Most money spent on gold exploration in Australia During the June 2026 quarter, the most money was spent on gold exploration among different metals. Gold: Rs 3,883 crore Iron ore: Rs 1,606 crore Copper, nickel, zinc and lead: Rs 1,217 crore Coal: Rs 401 crore These figures show that companies in Australia are more focused on finding new gold reserves. 3. Australia has a large share in the world’s gold production. In 2025, Australia will produce 314 tonnes of gold. A total of 3,300 tonnes of gold was extracted in the world during this period. That means Australia’s share in the total world production was about 9.5%. According to the report, gold production in Australia increased by more than 10% in a year. 4. What can India benefit from Australia? India buys most of its gold requirement from other countries. In such a situation, if imports from Australia increase, India will have another option to buy gold. The rules related to mining and business in Australia are strict. There the rules related to the source of gold and the environment are also taken into consideration. This can help Indian companies to check from where they are buying gold. Due to the war in West Asia, gold consignments coming to India via Dubai were also affected. In such a situation, if business from Australia increases, India may find another way to import gold. 5. Will this make gold cheaper in India? If new mines are found in Australia and gold production increases there, then the supply of gold in the world market may increase. But this does not mean that gold will become cheaper. The price of gold also depends on how much demand there is in the world, how much it costs to produce and in which direction the prices move in the international market. What is the difference between the mines of India and Australia? Gold does not come directly from the ground in pure form. It is extracted from the stone and soil in which gold is mixed. It is called gold ore. There is a big difference in the amount of gold obtained from one ton of ore in the mines of India and Australia. Australia’s ore contains about 8.5 times more gold per tonne than India’s. Where does the supply of gold come from in India? India’s gold requirement is met in three main ways: 82% – By import: Gold is purchased from other countries. 16% – From recycling: old jewelry and gold is reused. 2% – From domestic mining: Gold is extracted from India’s own mines. ———————— Also read this news… 30 thousand Indian laborers left work in America: They do not have complete documents, fear of being caught. About 30 thousand Indian laborers have had to leave farming work in California, America. Many of these workers do not have complete documents to live and work in America. Read the full news here…
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