Golden future for Queensland’s largest gold mine

Published Monday, 11 March, 2024 at 02:32 PM

Minister for Resources and Critical Minerals
The Honourable Scott Stewart

  • Mining leases for the Ravenswood Gold Project renewed for a further 16 years.
  • About 220,000 ounces of gold is produced each year.
  • The mine is increasing ore processing to 8.4 million tonnes a year.

Queensland's largest gold mine is set to operate for at least another 16 years following the recent renewal of four crucial mining leases.

The Ravenswood Gold Project in North Queensland is a cornerstone of the local economy, supporting more than 400 employees while also partnering with suppliers from the local region.

The recent renewal of these mining leases not only cements the long-term future for Ravenswood Gold but also paves the way for significant expansion, with plans to increase processing from 2.5 million tonnes to an impressive 8.4 million tonnes per year.

The company recently completed a three-year $350 million expansion, including a new fleet of mobile mining equipment, new crusher, 12 MW ball mill and processing equipment as well as 100 million tonne tailings storage facility.

The renewal of an additional mining lease approximately 30 kilometres northeast of Ravenswood, will allow the company to conduct a feasibility study into an historic mineral prospect known as Last Chance.

This aligns with Ravenswood Gold's mission to enhance its mining operations and is another sign of confidence in Queensland’s resources sector.

Quotes attributable to the Resources and Critical Minerals Minister Scott Stewart

“Ravenswood Gold Project not only provides crucial employment opportunities but also actively partners with suppliers from the local region whenever possible, fostering economic growth within the community,” he said. 

“The extension of these mining leases secures the long-term future for Ravenswood Gold and sets the stage for substantial expansion, contributing to the economic development of the region.

“Queensland’s mining landscape is exciting, continuously growing and evolving, exactly as we see here with Ravenswood Gold.

“The fact the company is now looking at a feasibility study into a nearby resource proves what we already know- that Queensland’s mining future is bright.”

Quotes attributable to Ravenswood Gold CEO Brett Fletcher:

“The renewal of our Mining Leases is another exciting and positive step forward for the future of the Ravenswood Gold Project.

“Long term certainty is critical for business confidence and continued investment.

"Our positive relationship with the Queensland Government allows us to confidently continue to invest in the long-term future of the Ravenswood Gold Mine and the region.”