Australian mid-tier gold company Regis Resources (ASX:RRL) has received final approval from the Independent Planning Commission of New South Wales (IPC) for the McPhillamys Gold Project.
The McPhillamys project is located about 250km west of Sydney in the central west region of New South Wales and has an expected annual gold production of 192,000 ounces over a 9-year mine life.
This approval follows a ‘substantial’ process including review of the Department of Planning and Environment’s (DPE) Assessment Report, submissions from stakeholders, and a public hearing held last month.
Commenting on the approval, Regis Resources Managing Director Jim Beyer says: “We are very pleased with the IPC’s final determination and can now move forward with our production ambitions at the McPhillamys Project.
“We are very pleased with the IPC’s final determination and can now move forward with our production ambitions at the McPhillamys Project”
The project holds substantial potential for Blayney and its surrounding areas in Central Western NSW and we look forward to working with local communities, stakeholders, and companies to mitigate the risks and concerns surrounding the project and establish this gold mine in a collaborative way.
McPhillamys is one of Australia’s largest undeveloped open-pittable gold resources and underpins significant value potential for Regis.
We anticipate a response on the Federal Section 10 application shortly and will now incorporate the approval conditions into the finalised Feasibility Study, complete the funding strategy for the project, and expect announcing further developments late in 2023.”
Regis Resources is an Australian mid-tier gold company pursuing ‘high-grade’ gold mining opportunities in Central Western New South Wales. Along with the McPhillamys Gold Project, the company also holds a 30% interest in the Tropicana Gold Project located 330km east-northeast of Kalgoorlie in Western Australia. The remaining 70% interest in Tropicana is held by AngloGold Ashanti (ASX:AGG).
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