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Between 1994 and 2003, 400 mergers and acquisitions took place globally in the gold mining industry. During this time, the gold price fell to its lowest level since the closing of the Gold Standard in 1972. In response, exploration budgets were slashed, R&D projects shelved and production halved. Many in the industry questioned the future of gold under globalising conditions and began diversifying into other minerals. Some in the industry suggested there would no longer be a role for small to medium gold producers in the future. The research in this book examines what has happened since that prediction in the late 1990s. It also examines the extent to which globalisation as an idea is understood in business circles and how this has filtered through to the global gold mining industry. By Utilising case studies which consider new emerging regions as potential gold sources and stories gathered from producers within the industry, this book should provide mining professionals, geographers, resource managers and students alike with a better understanding of how old-world commodities such as gold, compete in a globalising market place.
Meg Sherval, PhD, is an Economic and Resource Geographer in the Department of Environment and Geography at Macquarie University, Sydney, Australia. Her research focuses on land use in urban, rural and remote areas, and on issues such as globalisation, resource peripheries, recreational land development and sustainability.