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20 April 2023
Queensland’s Ravenswood mine has become the state’s largest gold 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 expected to produce over 200,000 ounces of gold annually.
Queensland Resources Minister Scott Stewart praised the company for the expansion, stating that the project deserved a gold medal for its contribution to the local community and businesses. He also highlighted the benefits that the expansion would bring to the town of Ravenswood, beyond the life of the mine, by providing sustainable jobs and flow-on effects for the local economy. In addition, the royalties generated from the mine would contribute to funding schools, hospitals and roads in Queensland.
The mine has been operational since 1987 and was acquired by Ravenswood Gold in April 2020. The gold mine was also announced as the supplier of gold for the Brisbane Olympic and Paralympic medals in 2032, marking a significant achievement for the company and the town of Ravenswood.
Ravenswood Gold CEO Brett Fletcher acknowledged the project’s success, saying that the mine was delivering significant economic benefits and providing employment opportunities for the local community. He emphasized that the majority of the team lived within a two-hour drive of the mine, highlighting the positive impact that the expansion had on the region.
The Queensland resources industry directly supports around 75,000 jobs across the state, with a majority in regional areas. The expansion of the Ravenswood mine is an excellent example of how local people can work together with private businesses and the government to create real benefits for the state.
In conclusion, the expansion of the Ravenswood mine has contributed significantly to the local economy and community, generating sustainable jobs and flow-on effects for local businesses. It is a vital component of the Queensland resources industry, which supports a significant number of jobs across the state, particularly in regional areas. The success of the expansion project is an excellent example of how private business and government can collaborate to create meaningful and lasting benefits for the state and its people.