Western Australia's once-thriving nickel industry is pivoting towards gold production as prices soar. The three mothballed nickel concentrators — Black Swan, Cosmic Boy, and Lake Johnston — will undergo significant retrofitting, with investments totaling hundreds of millions of dollars. Black Swan, located 50 kilometers northeast of Kalgoorlie-Boulder, has been idle since 2009 and will cost $101 million to retrofit, targeting commissioning by mid-2024. This plant alone is expected to create 60 jobs and support an additional 300 at nearby mines. The surge in gold prices, which have risen from about $4,000 to over $7,000 per ounce, is revitalizing the industry, with gold royalties projected to reach $1.3 billion by 2026-27. Medallion Metals is also advancing its Ravensthorpe gold project, aiming for its first gold pour in the first half of 2027. The strategic repurposing of these facilities not only accelerates production timelines but also offers flexibility for future nickel processing.