Advertise your business here! 🚀

Contact us now and get more customers.

Smiling woman thumbs up

Evolution Mining Approves $273M Cowal Expansion Project In Australia

mining
Apr 16, 2025
Article Source LogoMining Technology
Mining Technology

Evolution Mining’s board has approved an A$430m ($273.15m) investment to expand its Cowal Gold Operations in New South Wales (NSW), Australia.

The Cowal Open Pit Continuation (OPC) project will add an estimated two million ounces (moz) of gold production and extend the mine’s life by ten years to 2042.

The decision follows approval last year from the NSW Department of Planning, Housing and Infrastructure and the Federal Government earlier this year.

The OPC project includes continued mining at the existing E42 pit and the development of three new satellite pits – E46, GR and E41 – to the north and south of E42.

Evolution Mining managing director and CEO Lawrie Conway said: “Today, the Board has approved the project, which has compelling returns of 71% at current spot gold price and a short payback period. It will contribute to the goal of sustaining Cowal’s current production rate, while at the same time delivering significant economic benefits for all stakeholders.

“The project represents a major milestone for Cowal, unlocking the potential for further sustained growth, enhanced shareholder returns, and the opportunity to leave a lasting positive impact for our stakeholders and the communities in which we operate.”

Evolution Mining said that exploration efforts are ongoing, targeting further mineralisation that could support underground mining.

The expansion of open-pit operations will enable access to high-grade ore underground, supporting plans to increase underground output to 2.4 million tonnes by fiscal year 2026 (FY26).

At that point, underground production is expected to account for around 30% of total mine feed and 50% of gold output.

Since its acquisition by Evolution Mining in 2015, the Cowal operation has generated more than A$1.62bn in net mine cash flow, including A$479m in the first nine months of FY25.

Evolution Mining operates six mines across Australia and Canada, with Cowal being one of its wholly owned sites.

Share Your Insights!

Publish your articles, reach a global audience, and make an impact.

0
Recent Comments

Mining Related News You might want to check out

View by
Ghana Expects Us$12 Billion A Year From Small-Scale…
Ghana Expects Us$12 Billion A Year From Small-Scale…
Africa Mining Market
22 May 2025
mining
Ghana Expects Us$12 Billion A Year From Small-Scale Gold Mining
Ghana Expects Us$12 Billion A Year From Small-Scale Gold Mining
Africa Mining Market
22 May 2025
mining
World'S First Fleet Of 100 5G-A Autonomous Electric Mining Trucks Launched At Yimin Mine
World'S First Fleet Of 100 5G-A Autonomous Electric Mining Trucks Launched At Yimin Mine
Global Mining Review
20 May 2025
mining
Understanding The Next Steps In The $20 Trillion Seabed Mining Opportunity
Understanding The Next Steps In The $20 Trillion Seabed Mining Opportunity
Global Mining Review
16 May 2025
mining
Canada Growth Fund Commits $111M For Foran Mining’S Mcilvenna Bay Project
Canada Growth Fund Commits $111M For Foran Mining’S Mcilvenna Bay Project
Mining Technology
15 May 2025
mining
Vedanta Resources Weighs Zambia Copper Ipo To Fund Us$1 Billion Investment
Vedanta Resources Weighs Zambia Copper Ipo To Fund Us$1 Billion Investment
Africa Mining Market
02 May 2025
mining
Weir Completes $840M Acquisition Of Mining Software Company Micromine
Weir Completes $840M Acquisition Of Mining Software Company Micromine
Mining Technology
01 May 2025
mining
The Evolving Landscape Of Sustainable Mining
The Evolving Landscape Of Sustainable Mining
Global Mining Review
17 April 2025
mining
Mining'S Moment To Go Fully Electric
Mining'S Moment To Go Fully Electric
Global Mining Review
16 April 2025
mining
Evolution Mining Approves $273M Cowal Expansion Project In Australia
Evolution Mining Approves $273M Cowal Expansion Project In Australia
Mining Technology
16 April 2025
mining
Epiroc Wins Large Mining Equipment Order In India
Epiroc Wins Large Mining Equipment Order In India
Global Mining Review
16 April 2025
mining
Queensland Committed To Streamlining Mining Approvals
Queensland Committed To Streamlining Mining Approvals
Australian Mining
16 April 2025
mining