Jan 25, 2019

Resolute funds new school to pave way for gold expansion

Resolute funds new school to pave way for gold expansion

Resolute Mining will spend about $8.5 million to shift and reconstruct the State School at Ravenswood.

The company said its agreement with the Education Department would allow it to progress development activities at Buck Reef West as part of the Ravenswood Expansion Project, which will extend mining at the local gold mine to at least 2032.

The new school will comprise the relocation of the existing heritage-listed school residence and school buildings in addition to the construction of a new state-of-the-art learning centre and administration building, separate undercover playgrounds for junior and senior students, a new covered multi-purpose court and amenities building, a large sports field and nature reserve and a new principal’s residence.

Construction activities will begin during 2019, with the opening of the new school targeted for mid-2020.

“Resolute has worked closely with the Queensland Government and local community at Ravenswood for more than 15 years,” Resolute managing director and chief executive officer John Welborn said.

“The construction of a new State School is consistent with our commitment to the local community and to local heritage.

Resolute managing director and chief executive officer John Welborn.

“The relocation and renovation of the currently uninhabitable heritage-listed residence will enable this historic building to be both preserved and utilised.”

Resolute says recent analysis of the geological model for the Ravenswood province, processing optimisation and a focus on improving environmental outcomes has confirmed significant potential exists for material enhancements to the Ravenswood Expansion Project.

A strategic review of the Ravenswood Expansion Project has commenced and is expected to result in an updated life-of-mine plan.

Mr Welborn said the company had a commitment to continual improvement of its assets through exploration, adopting available technologies and disciplined investment in operational expansions and improvements.

“In July 2018, when we published the updated Ravenswood Expansion Plan, we advised that we planned to intensify our efforts to identify further cost saving and revenue enhancements as our plans at Ravenswood develop,” he said.

“We are now ready to incorporate additional advantages and opportunities into our development plan. I am excited by our work to date and look forward to updating the market once our review is completed.”

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