A$120m Pilbara gold expansion approved
Gold miner Capricorn Metals has secured board approval for a A$120-million expansion of its Karlawinda gold project (KGP) in the Pilbara region, targeting production of 150 000 oz/y.
Coupled with the development of the Mount Gibson mine, this would position Capricorn to join a select group of companies achieving more than 300 000 oz/y of gold production, all sourced from Australian operations.
The positive investment decision for the expansion of the KGP, which started operations in June 2021, follows a significant increase in the project’s proved and probable reserves to 1.43-million ounces.
“The board's approval of KGP's expansion reflects the quality and simplicity of the operation and the optionality that comes from increasing reserves and mine life with targeted resource drilling,” said executive chairperson Mark Clark.
The expansion will incorporate the installation of a new three-stage crushing and ball mill circuit to increase processing capacity to 6.5-million tonnes a year.
Construction will be completed in the fourth quarter of the 2026 financial year.
The expansion has a ten-year mine life and the project has an internal rate of return of 20 months.
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