New South Wales will soon be home to a new gold mine after Regis Resources’ McPhillamys project received approval.
Located at Blayney, near Bathurst, the project has been approved for gold extraction for up to 11 years by the Independent Planning Commission of New South Wales (IPC).
“We are very pleased with the IPC’s final determination and can now move forward with our production ambitions at the McPhillamys project,” Regis managing director Jim Beyer said.
“The project holds substantial potential for Blayney and its surrounding areas in central western NSW and we look forward to working with local communities, stakeholders and companies to mitigate the risks and concerns surrounding the project and establish this gold mine in a collaborative way.
“McPhillamys is one of Australia’s largest undeveloped open-pittable gold resources and underpins significant value potential for Regis.”
NSW Mining said the approval would generate nearly 600 construction jobs and 260 operational jobs, along with over $500 million in capital investment and $65 million in royalties.
To get the project off the ground, Regis completed three years of assessment with the Department of Planning, involving 21 NSW Government departments and agencies.
All 21 departments and agencies accepted the project.
“New metals mines like the McPhillamys gold project are critical to supply the metals of the future for a range of industries including health and telecommunications, renewable energy, advanced manufacturing, defence, and transport,” NSW Mining said in a statement.
Regis will extract up to 60 million tonnes of ore and produce up to 2 million ounces of gold during the mine’s life.
Conditions to minimise noise, dust and water usage will be imposed on the mine in order to meet environmental approvals and limit the impacts on local communities.