WA in midst of gold rush, exploration figures show
A Kalgoorlie-based drilling company involved in some of Australia's biggest recent gold discoveries is experiencing "unprecedented demand" amid an ongoing boom in mineral exploration.
Australia is currently experiencing a gold rush, with investment in gold exploration reaching an all-time high. In the 2025-26 financial year, $1.93 billion was spent on gold exploration in Australia, with $1.57 billion specifically invested in Western Australia (WA). The recent surge in gold prices has led to unprecedented demand for exploration services.
Kalgoorlie-based drilling contractor Topdrill is a prime example of this boom, having grown from a single drill rig and two employees to over 550 workers today. Founder Tim Topham anticipates receiving his 43rd drill rig in the near future, attributing the company's success to the gold price boom. Gold exploration accounts for 95% of Topdrill's workload.
However, there are concerns about the impact of proposed reforms to capital gains tax on investment in Australia's exploration industry. The Australian Bureau of Statistics (ABS) data also reveals that gold represents the largest portion of Australia's total mineral exploration spending, with $1.57 billion out of $2.99 billion dedicated to the search in WA.
The future of exploration remains uncertain, but business owners such as Topham are prepared for both the present and potential changes ahead.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
