Project Manager: Newmont Mining
Project Owner: Newmont Mining
Budget: $140m
Stage: Committed What does this mean?
Jobs: TBA new jobs. Check this link for available rolesLow production levels and high operating costs within the gold sector forced Newmont Mining into expanding the underground mine to make it more viable. The mine is the largest of the two remaining gold mines in the Northern Territory, and one of just six mines currently in production.
Once finished, the revamp is expected to increase output by 80,000 ounces per year and save $50 per ounce in production. General Manager Francios Hardy has said the completion of the decline meant there were now two tunnels leading underground.
“We’ve had a single decline underground and we have 17 trucks driving up and down that decline so there’s a lot of congestion. The first step was to clear that congestion. We’re [also] building a large ventilation upgrade, so we’re actually sinking the ventilation shaft.”
The renovation of the processing mill had started to increase throughput, with the mill having been there for 28 years and the maximum that it could handle was about 2.3 million tonnes per year.
“With the underground expansion we’re going to be producing about 2.6 to 2.8 million tonnes per year. Needless to say there’s a bunch of metallurgists and processing guys running around really excited because it’s the first time in 28 years that we’re going to spend money on them.”
The company is also expecting to drill 150,000 metres in exploration over the next three years.
