Boddington is blessed with a number of established economic resources and economic activity is mainly based on gold, copper and bauxite mining and agriculture supported by construction, manufacturing and forestry products.
At the last census Boddington had one of the lowest unemployment rates in Australia.
Newmont Gold operates the largest gold mine in the Southern Hemisphere at Boddington and around 800,000 ounces of gold per year and around 70,000,000 pounds of copper and adds up to 1.6 billion dollars annually to the Australian economy.
Newmont is currently to spending $400-500 million conducting a “cutback” to one of the pit walls at Boddington which will expand the mine and of life of the operation. The decision is a triumph for local management who have dramatically improved productivity at the mine in recent years, particularly in areas like shovel utilisation and truck idle times.
Boddington is expected to produce gold in 2016 at an all-in sustaining cost of $US820 per ounce, with gold prices up around AU $1800 an ounce the venture is very profitable.
The Boddington Gold Mine is the main employer in the locality and has been responsible for the significant growth in the town’s size in more recent years. The mine was originally established in 1987 as an open cut mining operation, however, ceased at the end of 2001 when the known oxide ore resource had been depleted. In 2005 Newmont Mining purchased the gold mine and identified a bedrock resource of almost 20,000,000 ounces and with the recent escalation in gold prices it has now become economic to reopen the mine. The mine expansion began in 2006 with the mining operations reopening in 2009 following the initial expansion.
South 32 a spin off listed BHP listed on various stock exchanges including the ASX in May 2015 operates Worsley Joint Venture one of the largest low cost bauxite mining and alumina refining operations in the world, with the capability of producing more than four million tonnes of alumina a year. South 32 run an exceptionally high-quality alumina refinery and two modern, cost-competitive aluminium smelters in Western Australia with the bauxite being mined at Boddington.
As far as I know Boddington holds a unique position in Australia in being the only small town that can boast the presence of two internationally recognised Top Tier mining operations.