At least ten more years of operation for local gold producer

FOSTERVILLE Gold Mine has been given the go-ahead to expand its operations after State Minister for Planning Sonya Kilkenny signed off on the Environment Effects Statement (EES) for the company’s Sustained Operations Project.

The Project is an initiative by Canadian controlling entity Agnico Eagle to extend the operational life of the mine for at least the next decade, resulting in a gross regional product increase of $1.3 billion dollars during that time.

The Minister’s assessment found that any potential future impacts can be acceptably managed, provided that strengthened environmental management practices and amended mitigation measures are adopted.

The endorsement follows a four-year assessment process involving technical, environmental and social studies, as well as engagement with local communities, stakeholders and government agencies.

Agnico Eagle’s vice president Australian operations Ion Hann said in light of the development, he and his colleagues remain committed to responsible mining and transparent communication.

“We will continue to do what we have always done – investing locally, fostering meaningful relationships with our business partners and suppliers, and working with our neighbours and surrounding communities to benefit our great region,” he said.

The mine directly employs more than 800 people, and this number is expected to increase to more than 1000 workers as a result of the expansion.

It’s one of the highest-grade gold mining operations in the world and the largest gold producer in Victoria.

Since the enterprise began in 2005, more than 4.4 million ounces of the precious metal have been extracted from the mine.