Ramelius Launches Phase 3 Open-Pit Expansion at Eridanus Gold Mine in Australia

en.Wedoany.com Reported - Australian gold producer Ramelius Resources has commenced Phase 3 open-pit cutback expansion operations at the Eridanus gold mine in Western Australia, with the project entering a new round of mining construction. The deposit is part of the Mt Magnet gold production hub. The company has budgeted A$75 million to A$110 million in growth capital expenditure for the Phase 3 expansion in FY2027, and the expanded mining operations will provide subsequent ore supply to the Mt Magnet processing facility.

In its quarterly operations report released on October 26, 2026, Ramelius stated that approximately A$2 million in growth capital expenditure was incurred on the Eridanus Phase 3 project during the July-to-September quarter. Company management noted during the corresponding earnings call that the project was then mobilizing equipment and construction resources, with major material stripping operations planned to begin in November.

According to previously disclosed mine design materials, Eridanus Phase 3 will continue to use open-pit mining methods, expanding the existing pit and extending it to greater depths. The project was originally scheduled to commence in April 2026 but was subsequently rescheduled to November. The company's planned subsequent development also includes deep underground mining after completion of the Phase 3 open-pit operations, with underground production targeted to commence in FY2034.

The processing plant expansion at the Mt Magnet production hub is progressing in parallel. The company has awarded the EPC contract for a new processing circuit with an additional annual capacity of 3 million tonnes to Primero. The new circuit will operate alongside the existing facility, which has a processing capacity of approximately 2 million tonnes per year. According to the October 2026 quarterly report, the existing processing plant has completed the tie-in of first-stage facilities including the new crusher and cyclone tower.