NSW: gold shines bright with record prices
Gold production in NSW surpassed $4.2b in FY25, more than half the total value of the state’s mineral output, bolstered by record-high global gold prices.
Gold mining has been part of NSW’s economic fabric for more than 175 years and will continue to be for decades to come, providing regional employment, delivering billions in royalties and providing the resources that continue to drive local economies and global industries.
Together with these record highs for the gold industry, NSW Natural Resources Minister Courtney Houssos, has congratulated Evolution Mining (ASX: EVN) on the 20th anniversary of its Cowal gold operations near West Wyalong.
This anniversary marks two decades of production and significant economic contribution to NSW.
A major extension of Cowal gold operations approved by the NSW government late last year will extend mining operations until 2042. It will support the continuation of 500 local jobs and contribute an anticipated additional $910m to the economy, signaling confidence in the future of mining in NSW and the jobs and economic benefits it will provide.
Since the first gold was poured at the mine in 2006, Cowal gold operations has produced around five million ounces of gold, contributing hundreds of millions of dollars in royalties to the NSW economy during the past 20 years.
Minister Houssos says NSW continues to stand out as globally competitive and stable destination for mining investment.
“For 20 years, Cowal gold operations has been a cornerstone of the West Wyalong region, driving local employment, supporting community programs and contributing billions of dollars in royalties and regional procurement,” she said.
“Evolution Mining’s success at Cowal is a powerful reminder of what can be achieved when industry, government and communities work together to deliver world-class projects that support both long term economic growth and environmental responsibility.”
Evolution Mining managing director and chief executive Lawrie Conway comments on the company’s accomplishment.
“We are delighted to welcome Minister Houssos to Cowal to mark 20 years of operations,” he said.
“This is an important milestone for Evolution and our stakeholders, and we thank the Minister and the NSW Government, for their support and backing of our sector.
“Thank you to our employees and contractors for their commitment and our community for their ongoing support. With two decades of operations safely achieved at Cowal, we look forward to continuing to deliver stakeholder value for many more decades.”