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Kalgoorlie Consolidated Gold Mines Pty Ltd., which is wholly owned by Northern Star, has lodged a proposal to widen and deepen the so-called ‘Super Pit,’ the Western Australia state government said in a statement. The miner wants to increase the area of the development to 7,795 hectares, up from the currently approved 5,914 hectares, it said.
Increasing ore supply will be key for Northern Star, Australia’s largest listed gold miner. The company committed A$1.5 billion last year to more than double processing capacity at its Kalgoorlie operations.Gold has surged over the last decade, more than doubling in price from late 2015, and reached a record of more than $2,200 an ounce last week. Australia is the world’s third-largest producer after China and Russia, according to the World Gold Council.
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