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Ramelius Resources has begun building the processing capacity required for its next production leap within its portfolio.
The gold producer is targeting annual output of more than 600,000 ounces by the 2030 financial year (FY30), supported by an expansion of its Mount Magnet processing hub and the development of the Rebecca–Roe project.
Ramelius awarded Primero an engineering, procurement and construction contract for a new three-million-tonne-per-annum Circuit 2 at Mount Magnet. The additional circuit will operate alongside the existing two-million-tonne-per-annum plant, lifting total installed processing capacity to approximately five million tonnes per annum.
Stage 1 works also progressed during the September quarter, with a new crusher and gravity tower integrated into the existing processing circuit.
The investment comes as Ramelius strengthens its financial position following the $300 million sale of Edna May to Forrestania Resources. The consideration comprised $210 million in cash and $90 million in Forrestania shares. Ramelius ended the quarter with $768 million in cash and gold.
Ramelius produced 48,839oz of gold at an all-in sustaining cost of $2656/oz during the quarter. Wet weather interrupted haulage from the high-grade Penny mine, leaving ore stockpiled for processing in the December quarter, but the company maintained its FY27 guidance of 205,000–225,000oz at an AISC of $2150–2350/oz.
Progress also occurred at Rebecca–Roe, where the Department of Water and Environmental Regulation granted a Part V works approval for Roe and the associated mining approvals are being pursued.
Ramelius managing director Mark Zeptner said the company was advancing its longer-term production strategy.
“We are systematically de-risking our business plan to become a 600,000-ounce producer by FY30,” he said.
“We are executing on our business plan to deliver real value to our shareholders.”
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