Ramelius Resources targets 205% gold production increase by FY30

Ramelius Resources has announced an ambitious growth plan targeting annual gold production of up to 610,000 ounces by fiscal year 2030. This represents a 205 per cent increase over production levels expected in fiscal year 2026.

A central component of this strategy is the expansion of the Mt Magnet hub in Western Australia. The company plans to expand the Mt Magnet processing plant with a new three-million-tonne-per-annum second circuit, with construction managed by Primero. Total expenditure for the Mt Magnet plant is now expected to reach $280 million, an increase from previous estimates due to inflation and infrastructure enhancements. The upgraded plant is targeted for completion in the December 2027 quarter, with commercial production beginning in March 2028.

In addition to the Mt Magnet expansion, the company is progressing its Rebecca-Roe project near Kalgoorlie. Managing director Mark Zeptner stated that the company aims to maintain a sector-leading position regarding all-in sustaining costs (AISC) while delivering significant growth. By fiscal year 2030, Ramelius expects to generate more than $1.5 billion in annual free cash flow.