The Ravenswood Gold Project has received a renewed lease on its future, ensuring continued operations for at least another 16 years.
This renewal of four crucial mining leases comes as a beacon of stability for the region, promising sustained employment for over 400 workers and fostering partnerships with local suppliers, the government said in a media statement.
Nestled in the heart of North Queensland, the Ravenswood Gold Project has long been a cornerstone of the local economy.
With the recent lease renewals, the project sets its sights on an ambitious expansion plan, aiming to triple its processing capacity from 2.5 million tonnes to an impressive 8.4 million tonnes annually.
The project’s commitment to growth was underscored by the completion of a comprehensive three-year, $350 million expansion initiative.
This investment saw the introduction of state-of-the-art mobile mining equipment, a new crusher, a 12 MW ball mill, and additional processing facilities, along with the construction of a 100 million tonne tailings storage facility.
Moreover, the renewal of an extra mining lease located approximately 30 kilometres northeast of Ravenswood opens the door for further exploration and development.
Resources and Critical Minerals Minister Scott Stewart emphasised the significant role played by the Ravenswood Gold Project in providing employment opportunities and supporting local suppliers, thereby fostering economic growth within the community.
“The extension of these mining leases secures the long-term future for Ravenswood Gold and sets the stage for substantial expansion, contributing to the economic development of the region,” he stressed.
He also noted the company’s feasibility study into nearby resources as evidence of the bright future of mining in Queensland.
Meanwhile, Ravenswood Gold CEO Brett Fletcher expressed excitement and positivity regarding the renewal of the Mining Leases, viewing it as a significant step forward for the project’s future.
He emphasised the importance of long-term certainty for business confidence and continued investment.
“Our positive relationship with the Queensland Government allows us to confidently continue to invest in the long-term future of the Ravenswood Gold Mine and the region,” Fletcher stated.
The company said it intends to conduct a feasibility study on an historic mineral prospect known as Last Chance, signalling its dedication to enhancing its mining operations.
