Evolution approves Cowal expansion early
PERTH (miningweekly.com) – The board of gold miner Evolution Mining has approved the A$25-million to A$30-million capital spend to expand its Cowal processing plant, in New South Wales.
The approval comes some 12 months ahead of schedule, with work planned to start in the March quarter of next year, and commissioning slated for 12 months later.
Evolution said on Thursday that between A$15-million and A$20-million in capital would be spent over the 2019 financial year, with a further A$10-million capital spend planned for the 2020 financial year.
The expansion plans would increase the processing rate at the Cowal plant from 7.5-million tonnes a year to 8.7-million tonnes a year, resulting in additional gold production from the current operating capacity of 5 000 oz in 2020, to between 10 000 oz and 15 000 oz in 2021, and to some 20 000 oz/y from 2022 onwards.
The plant expansion is also expected to reduce unit processing costs by between 8% and 12%, or by A$1.25/t to A$1.75/t.
In the next three years, all-in sustaining costs are expected to reduce by some A$5/oz by 2020, and by A$10/oz in 2021.
The New South Wales Department of Planning and the Environment in October approved a plant expansion at Cowal to 9.8-million tonnes a year.
Evolution said that further feasibility studies to determine the optimal long-term throughput rate of up to the permitted 9.8-million tonnes a year were also ongoing.
Metallurgical testing of potential future ore sources from the GRE46 and Dalwhinnie mineral systems and the maximum throughput rate achievable from the first phase of the plant expansion needed to be assessed before the long-term throughput rate at Cowal could be determined.
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