Ramelius Raises Gold Output Target to 560,000-610,000 Ounces by Fiscal 2030

Australia's Ramelius Resources has increased its gold output target to 560,000-610,000 ounces by fiscal 2030 and raised the budget for its Mt Magnet processing plant expansion in Western Australia to AU$280 million.

The company's growth plan also includes a higher all-in sustaining cost (AISC) of AU$2,150-AU$2,350 per ounce and AU$480-AU$570 million of growth spending.

Ramelius attributed the increased capital expenditure to inflation, more fixed-price contracting, and extra infrastructure that could support capacity beyond the planned 4.3 million tonnes a year.

The company claims its plan is fully funded with more than AU$1 billion across cash, gold, and investments.