Ravenswood expansion going for Olympic gold

The 153-year-old mine is currently owned by Ravenswood Gold – a private company comprised of EMR Capital and Golden Energy and Resources – and is located 130 kilometres south of Townsville.

In 2020, the Queensland Government approved the mine’s expansion, increasing its production to 180,000 – 210,000 ounces of gold per year and extending its life to 2032.

This would make Ravenswood Queensland’s largest gold producer in 2022.

Ravenswood Gold chief executive officer Brett Fletcher said the company takes a lot of pride in operating sustainably in respect to the town which has enabled its operation for year.

“Looking ahead, we are working with the people of Ravenswood towards a sustainable future for the town, including development of a local tourism industry that will endure beyond the life of the mine,” Fletcher said.

“With a strong team and a positive culture, we are focused on demonstrating that the mine and the town of Ravenswood can continue to successfully coexist and prosper, as they have for over 150 years.”

Deputy Premier and Minister for State Development Steven Miles said the possibility of further expansion remains on the cards to increase its life span past 2034.

“On 27 October 2021, I extended the prescribed project declaration for Ravenswood’s mine expansion project for two years, until 30 November 2023, and I will continue to consider future extensions as they’re required,” Miles said.

“This job-generating mine currently employs over 350 full time workers and plans are in place to expand the workforce to over 400 full time workers.”

The mine has produced millions of ounces of gold since it was opened in 1868, predating the modern Olympic Games by 28 years. Now, it will have the chance to get involved.

“It could be supplying the gold for the many medals our great Aussie athletes win in 2032. Wouldn’t that be a great Queensland success story,” Miles said.

“We want everyone in Queensland to be a winner and put Queensland businesses on the podium at the 2032 Games.

“Hosting the 2032 Olympic and Paralympic Games will generate $8 billion in economic and social benefits in addition to 91,600 jobs.”

Resources Minister and Member for Townsville Scott Stewart said Ravenswood was just one example of the government investing in the future of its resources industry.

“The Palaszczuk government approved new mining leases and paved the way for the $300 million extension of the Ravenswood Gold Mine just two years ago,” Stewart said.

“Not only is the company supporting hundreds of people through direct work, it is growing the North Queensland economy via supply contracts worth of millions of dollars.”