Alkane Resources says it's received State Government approval for its Tomingley gold project, which will create up to 350 new jobs.
In a statement Alkane said the mine near Dubbo in central-west NSW would run for around ten years.
Around 200 to 250 of the new positions will be created during the construction phase, with another 100 permanent roles in mining operations.
Almost all of the jobs will be sourced from the mine's local region, and Alkane said Tomingley could be producing gold by the second half of 2013.
The entire project will consist of three open pit mines, and after three to four years an underground operation will also begin.