Speaking at the Resources Rising Stars conference on the Gold Coast this morning, Beament noted that while the reserves of the global majors had declined by 37% over the past five years while Northern Star’s reserves had increased by 67% over the same time.
Over the next five years, production from the top five global gold miners is set to fall by 20% due to the lack of investment.
“I’ve been saying for a long time that this is the elephant in the room for the global gold sector,” Beament said.
However, he said the majors had started talking about exploration again at the Bank of America Merrill Lynch Global Metals & Mining Conference this month.
“It was an absolutely...