MINING REFINING

Bellevue Gold ramps up production with eye on sustainability

Mon Oct 21 2024

Bellevue Gold Limited (ASX:BGL) has made strides in its gold production ramp-up, as outlined in its September 2024 quarterly report. The company is on track to achieve its FY25 production guidance of 165,000-180,000 ounces of gold, with plans to increase output to 200,000 ounces annually by Q4 FY25. This progress is supported by infrastructure upgrades at the Bellevue mine, including ventilation, power, and pumping systems that have enhanced underground development and ore movement.

Bellevue reported gold production of 35,993 ounces for the September quarter, selling 39,405 ounces at an average realised price of $3,420 per ounce. These sales generated $11 million in free cash flow, despite significant investments in infrastructure and exploration.

CEO Darren Stralow highlighted the importance of the company’s growth strategy, stating, “We are on track to deliver on our five-year plan, with key infrastructure now in place to support increased production. Our commitment to sustainability, including the development of renewable energy solutions, is a cornerstone of our future operations.” The company aims to achieve net-zero carbon emissions at its Bellevue Gold Project by 2026 through renewable energy initiatives, including wind and solar power.

Looking ahead, Bellevue’s five-year plan includes increasing production to 250,000 ounces annually by FY28, while reducing all-in sustaining costs.

Source: https://www.sharecafe.com.au/