Resolute granted critical leases

THE Queensland government has granted nine new mining leases to Resolute Mining, which will support a potential A$150 million expansion.
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Resolute's Ravenswood mine

Staff reporter

The new leases include areas within the operational footprint of the proposed Buck Reef West open pit and nearby land required for infrastructure including roads, water management and noise bunding.

Queensland mines minister Dr Anthony Lynham said the new leases acknowledged Resolute's contribution to the Ravenswood community.

"For Resolute, it means they can continue operations smoothly as one mine reaches the end of its lifecycle and another begins," he said.

"For the 280-strong workforce, it means another 13 years of employment, as well as an additional 100 construction jobs for the new mine."

Resolute is conducting a strategic review into the project and expansion, which managing director John Welborn said would now be able to incorporate expanded production rates.

He confirmed an investment decision would be made in the second half of 2019.

"Ravenswood's future is increasingly secure as a successful large-scale, long-life open pit gold mine that will provide local employment, regional economic stimulus, community benefits, revenue for the state government, and benefits for Resolute shareholders," Welborn said.

Underground mining at Mt Wright will continue until late 2019.

The open pit expansion was granted prescribed project status in late 2016, allowing the independent coordinator-general to help Resolute navigate government approvals and cut red tape.