Evolution Mining (ASX:EVN) said that its board approved the open pit continuation project for the Cowal gold operations, which will extend the operation to 2042, according to a Tuesday Australian bourse filing.
This follows the receipt of approvals by the Federal Government and the New South Wales Department of Planning, Housing and Infrastructure.
The project will extend open pit mining at Cowal by 10 years and contribute an additional 2 million ounces in production, through further mining at the existing E42 pit and the development of three new satellite pits to the north and south of the E42 pit.
The underground is on track to ramp up to 2.4 million tonnes in fiscal 2026 and will then represent around 30% of mine feed and 50% of gold produced.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.