Australia’s Resolute Mining (ASX:RSG) said on Monday that it had completed the first part of the expansion of its Ravenswood gold mine in north Queensland state.
The announcement follows five months of work to refurbish the third ball mill at the Nolans processing plant at the operation. This will increase site processing capacity to five million tonnes a year, helping production rise to 80,000 ounces of gold a year.
Stage two of the expansion will see the Perth-based miner’s target production of 200,000 ounces a year for 15 years from 2022, it said.
Resolute managing director and chief executive, John Welborn, said the company would now evaluate the future capital demands of the full Ravenswood Expansion Project (REP), after which it would make an investment decision on the plan’s second phase.
The operation, located about 95km southwest of Townsville, is made up of multiple open pits to support large scale, long-term gold production beyond the life of the existing Mt. Wright underground mine.