Cowal operations openpit continuation project, Australia
Name of the Project
Cowal operations openpit continuation project (OCP).
Location
New South Wales, Australia.
Project Owner/s
Australian gold miner Evolution Mining.
Project Description
The OCP will extend the operation until 2042.
Contributing an additional two-million ounces in production, the project will extend openpit mining at Cowal by ten years through further mining at the existing E42 pit and the development of three new satellite pits, E46, GR and E41, located to the north and south of the E42 pit.
The additional openpit mining will allow for full development of the project’s underground potential, which is expected to ramp up to 2.4-million tonnes a year by the 2026 financial year and contribute about 30% of mill feed and 50% of total gold output.
Potential Job Creation
Not disclosed.
Net Present Value/Internal Rate of Return
In the base case, the project has a net present value of $875-million and an internal rate of return of 34%, with a payback from first ore of four-and-a-half years.
Capital Expenditure
Total approved capital investment for the project is $430-million spread over the next seven years.
Planned Start/End Date
First ore is expected in the middle of the 2027 financial year.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
None disclosed.
Contact Details for Project Information
Evolution Mining (Cowal site), tel +61 2 6975 4600.
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