McPhillamys Gold Project in NSW given the green light for development
The New South Wales Independent Planning Commission (IPC) has approved the development of Regis Resources’ McPhillamys Gold Project.
The approval is for 11-year gold extraction operations at the proposed McPhillamys project located within the rich mining region of Central Western New South Wales – about 250 kilometres west of Sydney.
This approval is the result of a three-year rigorous assessment undertaken by the Department of Planning that involved 21 State Government departments and agencies.
“We are very pleased with the IPC’s final determination and can now move forward with our production ambitions at the McPhillamys Project.
“The Project holds substantial potential for Blayney and its surrounding areas in Central Western NSW and we look forward to working with local communities, stakeholders and companies to mitigate the risks and concerns surrounding the project and establish this gold mine in a collaborative way.
“We anticipate a response on the Federal Section 10 application shortly and will now incorporate the approval conditions into the finalised feasibility study, complete the funding strategy for the Project and expect announcing further developments late in 2023,” Regis Resources Managing Director Jim Beyer said.
Project map (source: McPhillamys Gold Project)
The McPhillamys Gold Project is expected to create 600-710 jobs during its construction and up to 260 jobs annually once mining operations get underway.
The project is also anticipated to generate more than $500 million in capital investment as well as $65 million in royalties to the people of New South Wales over the life of the McPhillamys Project.
The McPhillamys Gold Project is wholly owned by Regis Resources and it is one of Australia’s larger undeveloped open-pittable gold resources.
The project will utilise a conventional drill and blast mining method for the open cut mine and ore will be processed at an on-site carbon-in-leach processing facility.
Artist impression of the project (source: Regis Resources)
The McPhillamys Gold Project is expected to have a mine life of 15 years with a mineral resource of 2.29 million ounces of gold along with an ore reserve of 2.02 million ounces of gold.
“New metals mines like the McPhillamys Gold Project are critical to supply the metals of the future for a range of industries including health and telecommunication, renewable energy, advanced manufacturing, defence, and transport.
“NSW has an abundance of these metals and minerals, with a range of related mining projects in the planning pipeline, representing the potential for further positive development of our state’s resources sector,” NSW Minerals Council CEO Stephen Galilee said.
Source: NSW Mining; Regis Resources (1, 2); McPhillamys Gold Project; Australian Mining; ABC News
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