A company based in Sydney has applied for an exploration licence to resume mining in the Orara gold fields of Australia.

According to the Coffs Coast Advocate, John Slade, principal of Geophysical Consulting Services, has readvertised an application for an exploration licence in New South Wales.

Covering one kilometre of land to the north-west of Coffs Harbour, the licence is being considered by the Australian Department of Primary Industries and is funded by a consortium of investors from Sydney.

If the licence is granted, it could lead to mining recommencing on the Orara gold fields and Mr Slade has stated that he expects that the it will be approved soon.

The Orara gold fields have yielded significant volumes of gold in the past and used to house the Beacon, Perseverance and Matilda gold mines.

Meanwhile, Australian Mines has suggested that the current high price of gold means that it is planning to focus its attention on gold operations, Dow Jones Newswires reported.

source: CommodityOnline

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