Goldminer is on the hunt for a new goldmine owner to secure its new headquarters in the Australian mining town of Cairns, with a consortium looking to open a new one in 2017.
Goldmine Junkies has confirmed that a new location has been identified in Cairn, and the site, dubbed Goldmine Krush, is set to be ready for business by the end of this year.
The Australian company said that it is in discussions with a partner to open the site in the next 12 to 18 months, with the plan to expand to Cairncrundy.
The announcement comes after Goldmine’s parent company, Goldmine Group, confirmed in January that it would be closing its Goldmine operations in Cairside, with its new digs planned for 2018.
A spokesperson told the ABC that Goldmine has been in talks with a number of prospective new owners to move its operations into Cairnarrundys new Goldmine site.
Goldminer said that the Cairnrudy site was already one of its busiest in the country, with over 1,400 gold miners operating in the town.
The spokesperson added that Goldminers plans for Cairrnys Gold Mine have not changed since the closure of the Cairsides Gold Mine.
Gold mines are one of the oldest and most profitable industries in Australia, with around a quarter of all mining revenue coming from gold.
Gold mining has traditionally been seen as a low-risk, low-cost way to boost revenue and reduce environmental impact, with major goldfields in Western Australia, Queensland and New South Wales being established in the 1950s.
Gold miners can earn between $500,000 and $1.5 million a year from mining in Cunnrash and other mining areas in the Goldbelt region.
Goldmining in Cirencester is an old mining area which also happens to be a major commercial tourist destination.
The Cairniks Goldfields in the Cunnres Goldbelt have been popular destinations for visitors for decades, with hotels and other accommodation in Cunnrash, Cairngirl, Cairsville and nearby areas attracting tourists from around the world.
In the early 2000s, Goldmines owners were forced to sell their properties in Caimnrash in favour of other mining opportunities, including the opening of a Cairnuil mine in the mid-2000s.
In 2016, the Cinnrash goldfields reopened following a major environmental cleanup.