The final regulatory hurdle in the extension of Evolution Mining’s Cowal gold operations has been cleared, putting plans for a further 1.6 million ounces of New South Wales gold firmly in motion.
The mining continuation project was approved by the Federal Government late last week under the Environment Protection and Biodiversity Conservation Act 1999.
This approval marks the final regulatory step required for the continuation of open pit mining following the previously granted NSW State Development Consent in December 2024.
It allows for the expansion of open pit mining at Cowal, including the mining of three adjacent ore bodies. The approval is valid to February 2050, which Evolution Mining managing director and chief executive officer Lawrie Conway said reinforces long-term operational stability.
“It is extremely pleasing to receive the final regulatory approval to continue open pit operations at our Cowal gold operations,” Conway said.
“This project has been subject to a robust approvals process, at both a state and federal level, and we acknowledge the constructive engagement and rigorous input across government to reach this positive outcome.
“Cowal possesses a significant mineral endowment that will sustain our operations for decades to come and provide lasting benefits for our stakeholders and continue the significant returns generated to date for our shareholders.”
Up to 64 full times jobs are expected to be created during the expansion’s construction, which, when completed, is tipped to inject more than $900 million into the state economy over its life.
Since acquiring the operation in 2015, Evolution said the operation has been a cornerstone asset for the company, delivering 312,644 ounces in the 2023–24 financial year (FY24).
Evolution is positioned to ramp up Cowal to an ore processing at a rate of up to 9.8 million tonnes per annum once the expansion is completed.
With all necessary approvals granted, Evolution will make a final call on the project before the end of the year.
