Newcrest Mining believes there could be another 30 to 50 years of mining left in the Cadia Valley in New South Wales’ central-west region.
The company’s current operation in the Valley, the Cadia Hill open-cut mine will close down in the next 18 months, ABC online reports.
However, construction has started on the $2 billion Cadia East project, which has approvals to operate for 21 years.
The company said this project, along with several other potential ventures, could keep mining in the Valley for another 30 years and perhaps even 50.
The miner has invested $200 million on the Cadia East project and has excavated the underground decline to a depth of one kilometre.
The company plans to build a control centre at nearby Orange, which will feature computer technology and remote control equipment.
The miner said it would initially control the Cadia Hill, Cadia East and Ridgeway Deeps mines, but could possibly be used for other operations worldwide.