Queensland has a new largest gold mine in the Ravenswood mine, after Ravenswood Gold completed a $350 million expansion at the site.
Located 130km southwest of Townsville, the mine has created over 350 local jobs and has supported 1000 contractors.
The mine is set to produce over 200,000 ounces of gold a year.
Resources Minister Scott Stewart congratulated the company on the expansion and said the project “deserves a gold medal for how it supports locals and local businesses”.
“It is providing good jobs, flow on benefits for local businesses and is ensuring a sustainable future for the town of Ravenswood well beyond the life of the mine,” he said.
“And all Queenslanders benefits with royalties that will fund our schools, hospitals and roads.
“The resources industry directly supports about 75,000 jobs across the state, particularly in the regions, which account for about two-thirds of all mining jobs.”
The mine has been in operation since 1987 and was purchased by Ravenswood Gold in April 2020.
In 2021, the gold mine was touted as the supplier of gold for the Brisbane Olympic and Paralympic medals in 2032
“This is a major achievement for our team at Ravenswood Gold and for the township of Ravenswood,” Ravenswood Gold chief executive officer Brett Fletcher said.
“We are delivering huge economic benefits and providing local employment opportunities, with the vast majority of our team living within a two-hour drive of the mine.
“Ravenswood Gold is a great example of local people working together with private business and government to bring real benefits for the state of Queensland.”
