Victoria is a world-renowned gold province and gold mining in Victoria is booming with an annual production over 2019-2020 reaching the highest yearly level since 1906. Bendigo is the site of two of Victoria’s four major gold mines, including Fosterville and Costerfield mines, both of which are widely regarded as the world’s highest grade at the lowest cost mining operations. Gold resources in and around Bendigo is estimated to be valued at $220bn. Other world-class deposits come from Ballarat and Stawell.
Ballarat also boasts a rich history with gold mining, celebrated at the award-winning outdoor museum Sovereign Hill, presenting the story of Ballarat as a goldrush boomtown. Gold was discovered in Ballarat in 1851, triggering the greatest alluvial gold rush the world has ever known. The sleepy pastoral settlement of Ballarat grew rapidly into a fine provincial city built on the wealth derived from its gold.
There is also exploration into gold and copper deposits in the Ararat and Willaura regions showing good potential. Stavely Minerals is a mineral exploration company currently with assets in western Victoria.