Qld extends backing for Ravenswood expansion
PERTH (miningweekly.com) – The Queensland government has extended the Prescribed Project status of ASX-listed Resolute Mining’s Ravenswood expansion project until the end of November 2020.
The Prescribed Project declaration is designed to facilitate the approvals process for projects deemed to be of particular economic or social significance to Queensland.
Resolute MD and CEO John Welborn said on Tuesday that the assistance provided by the streamlined administrative process provided by the Prescribed Project status has been essential in ensuring Resolute has received the regulatory approvals required for the Ravenswood expansion project, and in providing opportunity for further project enhancements.
“The Queensland government shares our view that the economic and social benefits of continuing gold mining in Ravenswood are significant for the region and for Queensland. The prolonged life of Mt Wright, and the collaborative and proactive approach to receiving regulatory approvals for our expansion plans, is allowing further enhancement opportunities to be identified and progressed.”
The Ravenswood expansion project would deliver 1.5-million ounces of gold over a 13-year mine life, at all sustaining costs of A$1 097/oz and an average gold production of around 115 000 oz/y.
The extension of the Prescribed Project status will assist Resolute in finalising a small number of additional regulatory approvals that will allow project work on an enhanced expansion programme to start, including approvals for additional mining leases, application for mining lease extensions, and an application for an environmental authority amendment to allow for in-pit tailings storage in the new Buck Reef West openpit.
All of the applications will be submitted in January, with final approvals expected by June.
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