Australia’s gold boom has a catch: surging costs. Miners across Western Australia are warning that all‑in sustaining costs (AISC) could jump to A$2,300–2,700 per ounce in fiscal 2026, up from A$2,163 this year mining.com. Labour expenses alone are projected to rise 3 %–5 %, and companies are bracing for another year of 4 % inflation mining.com. Evolution Mining raised its own AISC guidance to A$1,720–1,880 per ounce, citing higher wages and resource taxes mining.com.
Executives say the boom in gold has intensified competition for workers because nickel and lithium projects have been mothballed, pushing skilled labour toward the yellow‑metal sector mining.com. Northern Star Resources warned that wage pressure could persist even if gold prices stay elevated. Analysts worry that rising costs will erode profits and undermine investment in new projects. The irony is that record bullion prices are attracting capital, but without enough people to work the mines, output might stagnate and costs could continue to climb mining.com.
