The Australian government is eagerly awaiting details of the new gold mining policy in Thailand.
The nation's ambassador to Thailand, Paul Robilliard, said it is hopeful the policy will motivate more gold mining investment.
Mr Robilliard said Australian investors saw a good opportunity for gold mining in Thailand and awaited details of royalty fees.
An Australian investor who has invested in a gold mine in Thailand was interested to expand the business.
Meanwhile, the Thai government is working on feasibility studies on the new gold mine policy and how it will affect the country, he said.
Mr Robilliard said Australian firms had invested in Thailand in many industries such as automotive parts, the financial industry, minerals and ceramics, agriculture products and chemical industries.
Thai investors had also invested in Australia, especially in minerals and real estate such as the hotel industry.
A source from Akara Resources Plc, which operates a gold mine in Phichit province, said the company has no concerns about royalty fees which the government reportedly plans to change.
"We are working closely with the Industry Ministry and we would like the government to approve the gold mining policy to assist ongoing licensing commitments and promote some investment opportunities in Thailand for the greater resource sector," the source said.
The source said Akara's licence has not been renewed in the past eight years, so the company was unable to set up a business plan.
Industry Minister Atchaka Sibunruang said Australian investors' innovation and high-technology investments would help Thailand boost its economic competitiveness.
He also asked the Australian government to understand the situation in Thailand.
In 2014, Australia's investment applications for projects submitted to the Board of Investment numbered 21 and were worth 7.9 billion baht.
Meanwhile, news of the meeting between Mr Robilliard and Mr Atchaka has worried people living near gold mines.
Wanpen Promrangsan, leader of an anti-gold mine movement from Saraburi, feared the long relationship between the two countries will be used as an excuse to push forward the gold mining concession.
The group earlier called on the government to revoke its policy to give special prospecting licences (SPLs) in Chanthaburi, Loei, Lop Buri, Nakhon Sawan, Phetchabun, Phitsanulok, Pichit, Rayong, Sa Kaeo, Saraburi, Satun and Surat Thani provinces.
Ms Wanpen said the SPLs in 12 provinces would affect local livelihoods.
She said the gold mine operation in Pichit has sown conflicts among local communities over a large area, covering Pichit, Pethchabun and Phitsanulok.
Although it cannot be proved the health problems in the communities were caused by the gold mine operation, Ms Wanpen said locals should have the right to reject gold mine projects.
Akara Resources Plc has constantly denied the allegations, insisting it has followed international safety standards.
"We want the Australian government to monitor its companies that invest in Thailand," said Natthapong Keawnual, a farmer from Pitsanulok's Noen Maprang district.
He said two of the protesters had been sued by Akara Resources Plc.
They told the media the gold mine operation had caused environmental and health impacts on local communities at a protest in front of the Australian embassy in 2013, calling the Australian government to inspect the working process of Akara Resources Plc.