Agnico Eagle Mines’ Sustained Operations Project, ensuring the continuation of operations at the Fosterville gold mine (FGM) in Victoria, has received an official endorsement from the Victorian Minister for Planning, Sonya Kilkenny, for its Environment Effects Statement (EES).
The endorsement enables FGM, a major contributor to the Bendigo region’s economy, to maintain its mining activities within the existing licence for a minimum of ten years.
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The project includes the development of new tailings storage facilities, waste rock storages, water management programmes, and supporting infrastructure.
This endorsement comes after a thorough four-year evaluation process that included technical, environmental, and social studies, along with significant engagement with local communities, stakeholders, and government agencies.
Member for Bendigo East Jacinta Allan said: “Gold mining is woven into the fabric of Bendigo’s history – and this expansion will continue that legacy, supporting more than a thousand jobs and injecting more than $1bn into our economy.”
The endorsement secures more than 1,000 direct and indirect local jobs, while also bolstering FGM’s ongoing contribution to the local economy and community for a minimum of the next ten years.
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By GlobalDataFGM will now focus on examining the recommendations outlined in the Minister’s assessment.
Agnico Eagle vice president of Australian operations Ion Hann said: “This endorsement reflects the dedication of our team and the valuable input of community members, technical experts, and government representatives. We’re grateful for the engagement throughout the EES process and remain committed to responsible mining and transparent communication.”
“We will continue to do what we have always done – investing locally, fostering meaningful relationships with our business partners and suppliers, and working with our neighbours and surrounding communities to benefit our great region.”
In related news, Agnico Eagle Mines announced the acquisition of a 94.1% share in O3 Mining, with a takeover bid for all outstanding common shares at $1.67 each.
