The West Australian Government has given approvals for Southern Cross Goldfield's Marda gold project.
The project will now develop the 495 000 ounce gold resource at the site, aiming to turn it in to an open cut mine producing around 167 000 gold ounces over four years.
The first development will be Marda Central, which is comprised of the gold processing plant, tailings facility, accommodation camp, and six pits.
A proposal to support development of additional pits will also be submitted to the state government.
Speaking on the approval, Southern Cross managing director David Sproule said "this is an important milestone for the company which allows us to complete our project development pipeline with a series of attractive projects expected to generate significant returns for shareholders".
"Our first priority is to bring the recently acquired Manuka Silver mine in central NSW into production in the next few months; we are [also] working hard on recommencing mining at the Mt Boppy gold project near Manuka early next year," he added.
The approvals are good news for the industry, and come as gold is predicted to continue its slide this year.