Creating a Premier global
gold company

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2024 Annual and Sustainability Report

FY24 Sustainability Case Studies

FY24 ESG Performance Data

Our
Story

It’s all in the name… we’ve evolved from a small company into a globally relevant gold mining business with a reputation of delivering value for all stakeholders. Underpinning it all, is our Australian story and spirit. We dare our people to think differently, we act like owners and we live our values of safety, accountability, excellence and respect.

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Our
Operations

Evolution Mining is a leading, globally relevant gold miner. Evolution currently operates six mines, being five wholly-owned mines – Cowal in New South Wales, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada, and an 80% share of Northparkes in New South Wales.

The focus of Evolution Mining is on operating its projects safely and efficiently and developing them to their full potential.

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FY25 Highlights

In FY25 we produced 750,512 ounces of gold at an All-in sustaining cost (AISC) of $1,572 per ounce, and 76,261 tonnes of copper.

751

KOZ

Gold Produced

76

kt

copper production

$

2.3

B

Operating Mine Cash Flow

$

787

M

Group cash flow

$

1,572

/OZ

All-in sustaining cost

$

958

M

underlying profit after tax

$

2,161

M

EBIDTA

13

CPS

record final fully franked dividend – 25th consecutive dividend

30

MOZ

Minerals Resources – contained gold

4.4

MT

Mineral Resources – contained copper

35

%

improvement in TRIF during the year to 4.98(1)

11

MOZ

Ore Reserves – contained gold

1.4

MT

Ore Reserves – contained copper

1 TRIF: the frequency of total recordable injuries per million hours worked. Results are based on 12-month moving average (12mma).

FY24 Highlights

In FY24 we produced 716,700 ounces of gold at an AISC of A$1,477 per ounce – among the lowest cost gold producers in the world. 

717koz

Gold Production

68kt

Copper Production

$1,541M

Operating Mine Cash Flow

$1,477oz

All-in Sustaining Cost

$422M

Statutory net profit after tax

$139M

dividends declared

32.7Moz

Mineral Resources – Contained gold

4.1Mt contained copper
~13%
Improvement in TRIF during the year to 7.72

11.4Moz

Ore Reserves –
contained gold

1.3Mt contained copper

$2.7B

Contribution to the
Australian and Canadian economies1

  1. Economic contributions include supplier payments, wages, dividend payments, interest, taxes, royalties, community investment, payments to providers of capital and payments to financial institutions (interest). Local and regional organisations are defined by postcode in relation to geographical proximity to Evolution mine sites.
  2. TRIF: the frequency of total recordable injuries per million hours worked. Results are based on 12-month moving average (12mma). The reduction is against the FY23 adjusted baseline including Northparkes.

Sustainability

Our sustainability vision is to deliver long-term stakeholder value through safe, low cost gold production in an environmentally and socially responsible way.
See full Report
~12%

Reduction in emissions against adjusted FY20 baseline1, progressing our commitment to Net Zero by 2050 and on track to meet 30% reduction by 2030.

13%

Improvement in TRIF during the year to 7.72.

2.7B

Contributed to the Australian and Canadian economies3 and $419 million to local and regional businesses4 and organisations.

87%

of employees choosing to stay at evolution in a tight competitive market.

‘AA’ MSCI ESG rating’

the highest rating among global gold mining peers.

High Approval

Social Licence to Operate score recorded in our biennial Stakeholder Perception Survey.

45%

Improvement in FY24 freshwater usage intensity compared to adjusted FY20 baseline, exceeding target.

19%

Female workforce representation. Gender diversity has improved marginally year-on-year as we work toward our FY25 target of 22% female participation.

  1. Net Zero commitment of 30% emissions reduction by 2030 and Net Zero emissions by 2050, compared to FY20 baseline. Emissions targets are related to Scope 1 and Scope 2 only. Assessed using market-based method. Update from preliminary value of ~14% reduction reported in FY24 Directors’ Report following inclusion of Corporate and Exploration data and completion of external verification process.
  2. TRIF: the frequency of total recordable injuries per million hours worked. Results are based on 12-month moving average (12mma). The reduction is against the FY23 adjusted baseline including Northparkes.
  3. Economic contributions include supplier payments, wages, dividend payments, interest, taxes, royalties, community investment, payments to providers of capital and payments to financial institutions (interest).
  4. Local and regional organisations are defined by postcode in relation to geographical proximity to Evolution mine sites. 
Evolution has a strong platform of high-quality assets with an average reserve life of more than 14 years. All assets are located in the safe jurisdictions of Australia and Canada with a highly skilled workforce, and in an attractive operating environment. Our balance sheet is strong, our assets are generating substantial cash flow and our business is now well positioned to prosper through the cycle.
Jake Klein - Chair

Key News

Link to Full Year FY25 results conference call – 13 August 2025

August 1, 2025

Link to June quarter conference call – 16 July 2025

June 17, 2025

Link to March quarter conference call – 15 April 2025

April 15, 2025

Upcoming Events

  • 15 October 2025

    September 2025 Quarter Results

  • 20 November 2025

    Annual General Meeting

  • 21 January 2026

    December 2025 quarter results

  • 11 February 2026

    FY26 half year results

  • 15 April 2026

    March 2026 quarter results

  • 15 July 2026

    June 2026 quarter results

  • 12 August 2026

    FY26 full year results

  • 14 October 2026

    September 2026 quarter results

2024 Annual Report
Job opportunities
Latest News

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UPCOMING EVENTS

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Non-IFRS Information

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