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|The 1980's have produced an outstanding revival of the Australian gold industry. In contrast to some previous mining booms, the economic aspects of the growth in gold production are soundly based. In general the new developments have been highly profitable and this is beneficial to all parties- whether they be government, shareholders employees or suppliers. Mining companies are showing a large commitment to gold exploration with approximately 50% of Australian exploration budgets now being directed towards gold. An increasing proportion of this expenditure is being channelled towards the eastern States with Queensland 'being the major centre of interest. Further strong growth in production is expected with some 50 projects likely to come on stream before 1990. A very significant aspect of the foundation for this growth is a continuation of the existing tax status of the industry.|