The Beaconsfield community is set to receive a boost, with Proto Resources confirming work on its Barnes Hill mine will begin by the end of next year.
The confirmation follows BCD Resources' move to officially close the Beaconsfield gold mine, infamous for the underground collapse in 2006 that killed miner Larry Knight and trapped Brant Webb and Todd Russell.
Following the decision Webb told Australian Mining the closure was a "major disappointment" to the Beaconsfield community.
The Mercury reports Proto executive officer Andrew Heap said the new Barnes Hill mine would employ 100 people and fill the gap left by the Beaconsfield mine.
The $70 million nickel-cobalt-iron Barnes Hill mine is Proto's flagship project, and is expected to last 26 years producing 250,000 tonnes per annum.