Resolute Mining has been granted a further three mining lease applications by the Queensland Government over areas that support its Ravenswood gold project.
The new approvals are additional to the nine new leases granted in May this year and further support the expansion of Ravenswood.
The leases extend the surface area of Resolute’s existing tenure and include areas within the operational footprint of the proposed Buck Reef West open pit and noise bunding zone.
It also extends the area of nearby land required for infrastructure including roads and water management to support the project.
The move forms part of Resolute’s Ravenswood expansion project (REP) which aims to expand the site’s production profile and enhance returns and financial outcomes.
The company is conducting an ongoing strategic review of the REP, which involves seeking additional environmental approvals for an expansion of the existing Nolans tailings storage facility to support a potential increase in scale of the project.
Completion of the strategic review and a final investment decision on the REP is expected during the second half of 2019.
Resolute’s chief executive officer John Welborn expressed his excitement about the potential for the REP to add value to the company.
“Our strategic review is consistent with our commitment to identify and adopt industry leading technology solutions to enhance our operations, successfully execute development plans, and deliver exceptional returns for shareholders,” he said
“The Ravenswood Gold Mine will deliver low cost production for at least the next 14 years and will provide local employment and supplier opportunities, community benefits, revenue for the Queensland Government.”