Welcome to Australian Mines Limited
Australian Mines Limited (ASX Code: AUZ) is an Australian listed gold and base metals exploration company.
Australian Mines’ key asset is its extensive 100%-owned tenement holding in Nigeria’s northwest gold province that contain similar geology to the better known gold producing countries of Ghana, Cote d’ivoire and Burkina Faso – where a combination of advanced exploration and development programs is leading to rapidly expanding output.
The Company is currently undertaking an active exploration program over three project areas; Yargarma, Kasele and Tegina.
Nigeria has a history of gold production dating back as far as 1913, with output peaking during the period of 1933-43 when approximately 3.2 million ounces of gold was produced. The country’s gold production declined during the Second World War when mines were largely abandoned. The discovery of significant oil reserves in the nation’s south during the 1950s and the country’s on-going success as an international oil producer, subsequently suppressed any resurgence within the gold sector of Nigeria over the next sixty years, despite the potential for large auriferous deposits in the region remaining high.
Today, the country's mineral sector is springing back to life as government reforms aim to bring Nigeria into line with global best practice.
The experienced board and management of Australian Mines are well positioned to be a key part of this exciting re-emergence of Nigeria’s gold sector that many in the country feel offers similar potential to that of neighbouring West African countries.