NQ Minerals has announced plans to reopen Beaconsfield gold mine in Tasmania.
The Australian company, who owns nearby Hellyer gold mine, secured an option to buy Beaconsfield at the end of February pending due diligence.
NQ’s Chairman, David Lenigas, said the company was working with officials to determine what was required to re-activate Beaconsfield as soon as possible.
According to a spokesperson for the company, the mine’s processing plant requires upgrades and will be the core focus for NQ Minerals after acquisition.
NQ’s spokesperson said the due diligence process should be completed in the next four to six weeks.
An estimated 50 jobs will be created for the recommissioning phase, growing to 200 when underground operations reopen.
Beaconsfield is historically one of the richest gold mines in Tasmania, with past gold production totalling nearly 2moz between 1887 and 2012.
The mine was closed in 2012 for financial reasons.
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