Source : Perth Now news
Australia’s largest outback town is pulling out all the stops.
The occasion is a major talkfest of mining leaders gathering to discuss the outlook for gold and other metals in a new era of artificial intelligence.
The Diggers & Dealers Mining Forum, now in its 35th year, is coming to Kalgoorlie, almost 600km east of Perth on the edge of the arid Nullarbor Plain, from August 3.
The three-day event attracts up to 2600 mining company executives, filling the town to the brim and gifting local businesses a welcome customer spike during Western Australia’s quieter winter months.
“Kalgoorlie-Boulder has a unique vibe during Diggers and Dealers,” Mayor Glenn Wilson told AAP.
“Generally, we have a pretty casual and relaxed atmosphere but during Diggers we see many people in suits, chinos and RM Williams, more corporate and business attire around our community.
“And our hotels, cafes and restaurants are all buzzing.”
Everyone benefits.
Further afield, there’s a keen interest in what the gold, rare earths, metals and minerals bosses have to say about the future of their industries, which are crucial to the build-out of electric cars and AI infrastructure.
The forum attracts a wide range of stakeholders, from emerging explorers through to some of the world’s largest mining companies, as well as investors, financiers, contractors, suppliers and government officials.
“That mix has always been one of its strengths,” Diggers chair and industry veteran Jim Walker told AAP, adding that the main issues will be geopolitics, critical minerals, the gold price, energy and labour markets.
With a population of 30,000, Kalgoorlie is the gold capital of Australia.
It sits beside the massive Northern Star-owned open-cut super pit, which has produced millions of ounces of the yellow metal from the historic Golden Mile deposit over 130 years.
But it’s also home to Australia’s first rare earths processing facility, owned by sector heavyweight Lynas Rare Earths.
“Gold is on our doorstep with the mighty super pit but we’re also diversifying into rare earths,” Mr Wilson said.
“So there’s a lot of interest in our particular area seeing where (demand for) lithium has gone in recent times.
“The lithium belt through here is quite prominent.”
There’s also the nearby Kalgoorlie nickel smelter.
It’s been out of action for two years after prices fell due to oversupply, mainly driven by Indonesian production.
The asset, owned by BHP, is offline until at least February 2027, when its status will be reviewed, after a price recovery this year.
Meanwhile, with the forum poised to launch, the spot price of gold remains elevated after hitting an all-time record high of $US5,589.38 an ounce on January 28.
“Gold has managed to retain its shine, even while there have been some changes to sustained costs across the mining sector,” Mr Wilson said.
It’s now around the $US4,000 mark, which is 20 per cent above where it was trading during last year’s forum.
It’s also a solid move up from a decade ago, when gold peaked at $US1,366.25.
Some market watchers, like US investment bank JPMorgan, are still tipping another rally in the coming months with a potential push toward $US5,000 or more on the cards.
This year’s forum will be held in a newly built pavilion rather than the 3000 square foot marquee over a car park that’s been its home for the past 25 years.
Back in the mid-1990s, its top-tier presenter was local gold producer Normandy Mining, worth around $3 billion.
The biggest in 2026 is Canadian gold producer Agnico Eagle, with a market value of around $US72 billion ($A104 billion).
“That gives some indication of how much the scale and international reach of the sector have changed,” mining industry veteran Mr Walker said.
“What has not changed is the need for people to meet, exchange information and stay abreast of the deals and opportunities likely to shape the year ahead.”
