PERTH (miningweekly.com) – The Queensland government on Friday said that it would continue to support operations at the Ravenswood gold mine, to ensure the mine kept producing until 2034.

“On 27 October, I extended the prescribed project declaration for Ravenswood’s mine expansion project for two years, until November 2023, and I will continue to consider future extensions as they’re required,” said Deputy Premier and Minister for State Development Steven Miles.

“This job-generating mine currently employs over 350 full time workers and plans are in place to expand the workforce to over 400 full-time workers.”

Resources Minister Scott Stewart said owner Ravenswood Gold is a successful example of the resources industry working in partnership with the local community.

"The government approved new mining leases and paved the way for the A$300-million extension of the Ravenswood gold mine just two years ago. Not only is the company supporting hundreds of people through direct work, it is growing the North Queensland economy via supply contracts worth millions of dollars.

“Mining operations have also funded construction of a new primary school for local children and, on the mine site, heritage-listed buildings and mining relics have been retained and are creating new opportunities for local tourism.”

Ravenswood Gold CEO Brett Fletcher said the Ravenswood team were proud to be working with the state government and its regional business partners in building Queensland’s largest gold mine.

“Our vision is a sustainable, high performing, long life, low cost operation producing pure Queensland gold.”

Gold miner Resolute Mining in April last year completed the sale of the Ravenswood mine to a consortium consisting of private equity manager EMR Capital and energy and mining company Golden Energy and Resources for A$300-million, consisting of A$100-million of upfront value and up to A$200-million in potential payments, which will be contingent on future gold prices, future production from Ravenswood, and the investment outcomes from the Ravenswood project for EMR Capital.

Ravenswood Gold is working to expand the maximum capacity at the project from about five-million tonnes a year, to between seven- and eight-million tonnes a year, to produce between 180 000 oz and 210 000 oz of gold a year.