Ravenswood expansion gets underway
PERTH (miningweekly.com) – Gold miner Resolute Mining has approved a A$6-million capital investment for the Stage 1 Ravenswood expansion project, at its Ravenswood gold mine, in Queensland.
Stage 1 of the expansion will include the recommissioning of the third grinding mill at the Nolans processing plant, enabling the return of 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.
“Increasing the plant capacity at Ravenswood to its historical rate of five-million tonnes a year and using this capacity to process available low-grade stockpiles, will deliver an immediately cash flow positive, profitable mining operation at Ravenswood. As a result, this solution allows Resolute to focus on the ultimate transformation of Ravenswood into a large scale, low cost tier one Australian gold mining operation with an exceptionally long mine life,” said Resolute MD and CEO John Welborn.
The recommissioning of the third grinding mill at the Nolans plant is the first step in the eventual upgrading of the plant to support the expansion plans.
A strategic review of the expansion plan, which started earlier this year, is continuing to provide strong encouragement for higher throughput and production rates than envisaged in earlier studies, Welborn said.
This work has indicated that the full expansion could be undertaken over a 24-month period, with Ravenswood having the potential to deliver some 200 000 oz/y over a 15-year mining life, starting in 2022.
The strategic review of the expansion plan will be concluded before the end of the year.
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