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“Gold royalties paid to the WA government totalled $519 million in FY24, and the most recent state budget forecasts royalties will rise to $739 million in FY25 and $918 million in FY26. “The price of gold has risen nearly 50 per cent in US dollar terms in 2025 alone, surpassing $US4000/oz in October. For context, gold was trading at around $US1300/oz when the COVID pandemic began in early 2020.” The number of CMEWA members that list gold as its primary commodity has increased from 15 in 2014 to 21 in 2025 – an increase of 40 per cent. According to the Federal Government’s Resources and Energy Quarterly: September Report, gold is expected to overtake LNG to be our second-highest value export in 2025-26 at a national level. Australia still ranks as one of the top five gold producers in the world, alongside other nations including China, Russia, the United States and Canada. The report notes that Australian mine production is expected to increase sharply over the next two years. From 293 tonnes in 2024-25 to 369 tonnes in 2026-27.
