Victoria’s largest gold mine cements its future
Published: 14 March 2019
A gold mining renaissance in Victoria is being led by the Fosterville Gold Mine, east of Bendigo.
Minister for Resources Jaclyn Symes was at Fosterville last week to confirm the regulatory and planning approval for an on-site cement plant to enable gold production to increase.
Fosterville Gold Mine is internationally-renowned, reporting some of the highest gold grades globally in recent years.
Estimated gold reserves at Fosterville were recently upgraded by 60 per cent to 2.7 million ounces. Production in 2019 may top 600,000 ounces, up from 350,000 ounces last year, likely placing Fosterville in the top five of the nation's biggest gold producers.
The new cement infrastructure plant will provide the material to insert back into the excavated areas to help stabilise the mine and enable further excavation.
The mine employs 600 staff and is set to expand. The construction of the cement plant will create 60 jobs, and another 30 full-time roles ongoing.
Fosterville Gold Mine offers a range of apprenticeships to the region's young people, setting them up with a trade career and providing ongoing training to allow staff to maintain industry best practice.
Minister for Resources, Jaclyn Symes, toured Fosterville while making the announcement on the cement plant and celebrated the positive outlook at Victoria's largest gold mine.