Investing in the establishment of one of the world’s most advanced automated underground gold mines is a major undertaking for any mining company.
The mining industry is an energy-intensive industry - a situation that is compounded by its intensive use of fossil fuels to power its operations.
"The sale of our Ravenswood Gold Mine delivers on our objective of ensuring a new long-life future for Ravenswood while maximising value for shareholders."
Gold miner Resolute Mining has not has not amended its current production or cost guidance in response to COVID-19.
Resolute Mining has executed documentation for a new flexible low-cost syndicated loan facility with a maximum limit of US$300 million.
Resolute Mining has forward sold an additional 37,200 oz of gold at an average price of US$1,562 per oz July 2020 and December 2020.
Resolute Mining has entered a definitive transaction documentation to sell the Ravenswood Gold Mine in Queensland to a consortium.
Resolute Mining has provided a production update for the December 2019 Quarter. Total quarterly gold production increased by 2,092 oz to 105,293 oz.