21 Sep Resolute Mining completes feasibility study for Ravenswood expansion
Resolute Mining (ASX:RSG) has completed the feasibility study for the expansion plan at its Ravenswood project indicating annual production increase and mine life extension.
The study reported average annual production at the Queensland mine will increase to approximately 120,000 ounces of gold and the mine life extended by 13 years with operations continuing until at least 2029.
Resolute also announced the recommencement of open-pit mining in the Nolans East, Sarsfield and Buck Reef West pits. The feasibility study defined Resolute’s plans to complete the Mt Wright underground mine.
John Welborn, Resolute Mining managing director and CEO said the feasibility study was a tremendous achievement for the company.
He said: “A year ago we were facing the prospect of closing our operations at Ravenswood when the Mt Wright underground reserves were exhausted. We now look forward to a highly profitable 13-year mine life at Ravenswood.”