PERTH (miningweekly.com) – The Queensland government has granted gold miner Resolute Mining a new environmental authority permit for its Ravenswood gold mine, supporting the company’s ongoing Ravenswood expansion project (REP).
The new permit will allow Resolute to expand the existing Nolans tailings storage facility and to ultimately proceed with in-pit tailings storage, as part of the REP.
The miner on Friday said that approval and issue of the new pit provided Resolute with the ability to safely store tailings for the entire mine life, and expanded production profile anticipated to be generated by REP mining activities.
“The simplified tailings management strategy developed in the REP has significant operating benefits and is now supported by the required environmental approvals,” said Resolute MD and CEO John Welborn.
“Ravenswood represents an exceptional opportunity for Resolute. All major approvals are now in place for the development plan that can accommodate an expansion of annual production to 200 000 oz of gold over a ten year mine life.
“With available gold resources of almost six-million ounces, decades of operational excellence in openpit mining, efficient processing infrastructure, low cost grid power, and a stable skilled local workforce, the REP has obvious potential to deliver considerable economic benefits to Resolute shareholders, the local community and the Queensland government.”
Resolute in September this year approved a A$6-million capital investment for the Stage 1 Ravenswood expansion project, including the recommissioning of the third grinding mill at the Nolans processing plant, enabling the return to a processing rate of five-million tonnes a year. The mill is expected to be operational by the end of 2019.
The increased processing capacity will allow Resolute to process more of the low-grade stockpiled material that was stockpiled during previous openpit operations.
The Stage 1 project has a targeted production rate of around 80 000 oz/y at an all-in sustaining cost of around A$1 600/oz.