Evolution Mining says it is to continue open-pit mining at its Cowal gold operations in New South Wales, Australia, after receiving a key approval from the federal government.
The Cowal Gold Operations Open Pit Continuation (OPC) has received Federal Government approval pursuant to the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act), the company said, paving the way for this extension of operations.
This approval marks the final regulatory step required for the continuation of open-pit mining following the previously granted NSW State Development Consent in December 2024, Evolution noted. It allows for the expansion of open-pit mining at Cowal, including the mining of three adjacent orebodies. The approval is valid to 28 February 2050, reinforcing long-term operational stability.
As all regulatory approvals for the OPC have now been received, approval from the Evolution Board is expected to be sought during the June 2025 quarter, the company says.
Cowal achieved record annual gold production under Evolution ownership in its 2024 financial year, producing 312,644 oz at an all-in sustaining cost (AISC) of $1,338/oz. The underground mine at the operation also reached commercial production in April 2024 and is positioned to ramp up to 2 Mt in this (FY25) financial year.
Gold production in FY25 is guided to be 315,000-335,000 oz at an AISC of $1,700-1,770/oz. Production from Stage H of the E42 open pit will continue while production from underground continues to ramp up, providing an increasing contribution of higher grade ore for processing.
Managing Director and Chief Executive Officer, Lawrie Conway said: “It is extremely pleasing to receive the final regulatory approval to continue open pit operations at our Cowal Gold Operations. This project has been subject to a robust approvals process, at both a State and Federal level, and we acknowledge the constructive engagement and rigorous input across government to reach this positive outcome. Cowal possesses a significant mineral endowment that will sustain our operations for decades to come and provide lasting benefits for our stakeholders and continue the significant returns generated to date for our shareholders.”
