By Kathryn Diss
ABC News (Australia)
Gold miners in Western Australia are calling on the State Government to provide the sector with royalty relief until prices improve.
The managing director of Pilbara miner Northern Star Resources, Bill Beament, says many of the state’s gold miners are high cost producers struggling to make money amidst wildly fluctuating values.
He says if prices do not improve, many miners could go out of business.
“Royalty relief from the State Government really needs to be hammered on the table right now because with the gold price below US $1,500 an ounce, many high cost producers could very well go out of business in the next six months,” he said.
Towards the end of 2011, gold was selling for $1,900 an ounce.