Video: Gold mining faces a cliff after 2025, CRU analyst predicts
Global gold production will peak at about 3,250 tonnes (105 million oz.) next year, according to CRU's Oliver Blagden.
Australia’s Resolute Mining (ASX:RSG) said on Monday that it had completed the first part of the expansion of its Ravenswood gold mine in north Queensland state.
The announcement follows five months of work to refurbish the third ball mill at the Nolans processing plant at the operation. This will increase site processing capacity to five million tonnes a year, helping production rise to 80,000 ounces of gold a year.
The ultimate plan is to expand Ravenswood’ gold annual production to 200,000 ounces over 15 years, beginning in 2022
Stage two of the expansion will see the Perth-based miner’s target production of 200,000 ounces a year for 15 years from 2022, it said.
Resolute managing director and chief executive, John Welborn, said the company would now evaluate the future capital demands of the full Ravenswood Expansion Project (REP), after which it would make an investment decision on the plan’s second phase.
The operation, located about 95km southwest of Townsville, is made up of multiple open pits to support large scale, long-term gold production beyond the life of the existing Mt. Wright underground mine.
2 Comments
Claudia Miller
Please put end to the minning business need to stop immediate please to save our environment from around the world please the environmental is suffering with the bad pollution drilling digging into the environmental it very fragile please stop using the environmental for business purposes it wrong please stop all the companies on the countries at once please we need to start saving our environment
James Hoyle
CLAUDIA MILLER Your sentiments are admirable and we do need to find a position of compromise for mankind to be less injurious on our surroundings but have you considered what role fuel oil pollution for instance, plays in or impacts the atmosphere and the balance of CO and CO2 in our environment.
Furthermore, if no mining, how would you operate your laptop, smart device even internet connectivity.
Please don’t be a Greta Thunberg echo, evoke some realistic views and arguments that might lead to a viable solution and credible course of action that we might all globally benefit.