The Queensland government has issued the final approved, amended environmental authority for mining to re-commence at the Sarsfield open pit – a decision which benefits gold miner Resolute Mining Ltd
(ASX:RSG).
Resolute Mining says receiving the amended approval is a “major milestone” which is needed to progress its Ravenswood Expansion Project.
The company says the Expansion Project will extend its local operations for an additional 13 years to at least 2029.
It also says the expansion will boost average annual gold production to more than 120,000 ounces and generate Life-of-Mine All-In Sustaining Costs of $1,166 per ounce.
In 1H FY17, Resolute Mining posted a net profit of $64 million.
