Tanami is the second largest underground gold mine in Australia.
Tanami Expansion 2 project secures Tanami’s future as a long-life, low-cost producer with potential to extend mine life to 2040 through the addition of a 1,460 meter hoisting shaft and supporting infrastructure to achieve higher production and provide a platform for future growth. The expansion is expected to increase average annual gold production by approximately 150,000 to 200,000 ounces per year for the first five years beginning in 2026 and is expected to reduce operating costs by approximately 10 percent. Capital costs for the project are estimated to be between $1,200 and $1,300 with an expected commercial production date in late 2025. Development capital costs (excluding capitalized interest) since approval were $499, of which $215 related to 2022. |