Commenting on the approval, Evolution’s Managing Director and CEO, Lawrie Conway said: “Mungari has demonstrated its capacity to consistently and reliably deliver approximately 135,000 ounces per annum in recent years. This plant expansion unlocks the very large regional resource base, reduces All-In-Sustaining Costs (AISC) by 18% to AUD 1,750 per ounce, extends the mine life out to 15 years, and grows production to over 200,000 ounces post commissioning.
The expansion was always envisaged and formed part of our due diligence when we acquired the Kundana and East Kundana properties in 2021. Having successfully integrated the operations, this is now the next logical phase of making Mungari a cornerstone asset of Evolution.
We have rigorously tested the capital cost estimate and are confident in our capacity to deliver this project on time and budget. We are also confident that we will be able to discover additional ounces which will add further to the value of the project and are excited about the future at Mungari.”
(The full ASX Announcements is available on the Evolution Mining here)
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