ABMEC

Ravenswood Mine expansion

06/04/2017

The Ravenswood gold mine in Queensland (south of Townsville) is to undergo a major expansion.

This will entail the development of two new open pits and expansion of the processing plant.

This month, the Queensland government granted environmental approval for mining at the Sarsfield open pit, with construction to commence in coming months.

Construction will also commence this year in relation to the processing plant, whose capacity will be nearly doubled.

And subject to government approvals, construction is expected to commence next year in preparation for mining of the Buck Reef West pit.

Initial capital expenditure by the owner, Resolute Mining, will be around $130 million, with around double this to be spent over the next five years.

Ravenswood town and surroundings

Mining and processing at Ravenswood first got underway seriously in the 1890s. It was the first mine in Australia to use what was then the new cyanide process for extracting gold from ore.

In its heyday just before the first world war, the town of Ravenswood had several thousand residents and nearly 50 hotels.

As was common with gold mining in Australia, Ravenswood operated only intermittently for decades after the first world war.

However, it has been in continuous operation since 1987. Resolute Mining purchased it in 2004. Annual production is approximately 100,000 ounces. With the expansion, this will increase to over 120,000 ounces, until at least 2029.

 

Source: Melbourne Project Monitor