Resolute Mining Limited has executed two significant Heritage Agreements with the Queensland Government which support the Ravenswood Expansion Project.
The Heritage Agreements follow negotiations between Resolute’s subsidiary: Carpentaria Gold Pty Limited, the Department of Environment and Heritage Protection and the Department of Education and Training. The Heritage Agreements apply to land and structures registered in the Queensland Heritage Register and collectively cover areas of the proposed Ravenswood Expansion.
Project mining landscape including the historic Chinese Settlement Area and the Ravenswood School and Residence. As part of the Heritage Agreements the Department of Environment and Heritage Protection has granted the required Exemption Certificates which will enable the Ravenswood Expansion Project to proceed.
The Heritage Agreements are the first of many approvals needed to commence mining at the Buck Reef West property, a crucial component of the Ravenswood Expansion Project. The Ravenswood Expansion Project will extend Resolute’s operations at Ravenswood for a further 13 years to at least 2029, increase average annual gold production to more than 120 000 ounces, and generate sustaining Costs of AUS$1 166 per ounce.
Completion of the Heritage Agreements follows the receipt of the Amended Environmental Authority for the recommencement of mining at the Sarsfield open pit from the Queensland Government in March 2017 and the granting of Prescribed Project status in December 2017.
Managing Director and CEO, Mr. John Welborn, expressed his appreciation of the strong ongoing support and assistance provided by the Queensland Government:
“Resolute’s Ravenswood Gold Mine is a good news mining story for Queensland. The Heritage Agreements allow us to move ahead with final approvals for the Buck Reef West mine which is an integral part of our production plans.
The regular progress we are achieving with the required approvals is a demonstration of the support we are receiving from the Queensland Government and local agencies. The Ravenswood Expansion Project’s Prescribed Project status has streamlined administrative decisions and allowed for improved communication between the various stakeholders. We are particularly appreciative of the work of the Coordinator General’s department in guiding our applications through the relevant Queensland Government agencies.
“In pursing the series of approvals required for the Ravenswood Expansion Project we have focused on ensuring that our development plans recognise and balance the needs of heritage, the natural environment, economic development and community. Extending the mine life at our Ravenswood operations will provide ongoing employment for 280 people and add up to 100 new construction jobs.
“Resolute will continue to work with the various Queensland Government agencies to ensure the remaining approvals we require for open pit mining to commence at Buck Reef West are received on a timely basis and to deliver the success of the Ravenswood Expansion Project”.