Mt Rawdon (100% Ownership)

Mt Rawdon – Transitioning to end of mining

Our Mt Rawdon Operations is located 75km south-west of Bundaberg, Queensland and is surrounded by the traditional lands of the Bailai, Gurang, Gooreng Gooreng, and Taribelang Bunda peoples. Our local communities are Mt Perry, Gin Gin, Biggenden and Gayndah. Evolution has owned and operated Mt Rawdon since November 2011.

Mt Rawdon produced 68,635 ounces of gold at an AISC of $2,165 per ounce in FY24. Operating mine cash flow was $77.9 million, sustaining capital was $3.2 million. During the June quarter FY24, Mt Rawdon transitioned from a 24-hour mining operation to day shift mining only in preparation for the upcoming cessation of mining in the first half of FY25. Once mining from the pit is completed, processing will continue until stockpiles are exhausted by the end of FY25.

In FY25, gold production is planned to be approximately 30,000 to 35,000 ounces and AISC is guided at $3,000 to $3,500 per ounce.

Mt Rawdon produced 68,635 ounces of gold at an AISC of $2,165 per ounce in FY24. Operating mine cash flow was $77.9 million, sustaining capital was $3.2 million. During the June quarter FY24, Mt Rawdon transitioned from a 24-hour mining operation to day shift mining only in preparation for the upcoming cessation of mining in the first half of FY25. Once mining from the pit is completed, processing will continue until stockpiles are exhausted by the end of FY25.

In FY25, gold production is planned to be approximately 30,000 to 35,000 ounces and AISC is guided at $3,000 to $3,500 per ounce.

Mt Rawdon Pumped Hydro

The Mt Rawdon Pumped Hydro (MRPH) Project is being jointly developed by Evolution and ICA Partners to provide up to 20GWh of renewable energy storage and is located at an advantageous point in the electricity network between Brisbane and the energy intensive industrial hub of Gladstone. Providing essential firming capacity in Queensland’s transition to renewable energy, the storage facility would be capable of powering up to two million Queensland homes every evening.

The Feasibility Study, completed in FY24, demonstrated that Mount Rawdon Pumped Hydro is economically and socially attractive and will be the lowest cost pumped hydro generation project per megawatt of capacity in Australia. The Environmental Impact Study for the Project was submitted to the Queensland Government for assessment in May 2024. A comprehensive study, it demonstrates a unique and low impact pathway to convert Mt Rawdon from a gold mine nearing the end of its mine life to a large-scale, long life renewable energy generation and storage asset. It identifies Mt Rawdon Pumped Hydro as critical in the provision of secure, reliable and clean power to central and southeast Queensland as aging coal fired generators are progressively retired.  

The MRPH Project is advancing well and is expected to be operational by the early 2030s. It will support the Queensland Government’s target of achieving 70% renewable energy by 2032 as well as the Federal Government’s emissions reduction targets. The project also delivers on Evolution’s social responsibility commitment of leaving a positive legacy for the communities in which we operate beyond the life of the mine.

The project also delivers on Evolution’s social responsibility commitment of leaving a positive legacy for the communities in which we operate beyond the life of the mine.

For more information visit the Mt Rawdon Pumped Hydro website.

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