Evolution Mining, in partnership with advisory firm ICA Partners, has unveiled plans for a transformative project at the Mount Rawdon gold mine in Queensland, Australia. The proposal entails the construction of a 20,000-MWh pumped hydro storage facility, as detailed in the Environmental Impact Statement (EIS) recently submitted to state authorities.
If approved, the ambitious venture is projected to require an investment of approximately AUD 7 billion (USD 4.66 billion/EUR 4.29 billion) and promises to deliver substantial benefits to the region. With the capacity to supply up to two million homes in Queensland, the facility aims to address energy stability concerns while advancing renewable energy objectives.
According to Jake Klein, Executive Chair of Evolution Mining, the project represents a pioneering initiative in the industry's transition towards sustainability. He remarked, “We are very proud that Mt Rawdon will be the first operating gold mine that, upon reaching the end of its mining life, will be repurposed as a significant renewable asset critical to Australia's clean energy future.”
Preliminary assessments from the feasibility study suggest that the Mount Rawdon pumped hydro project stands as a financially viable and socially appealing endeavor. Notably, it is anticipated to emerge as the most cost-effective pumped hydro generation project per megawatt of capacity in Australia, further underlining its potential significance in the country's renewable energy landscape.
