Ballarat Gold Mine is owned and operated by Castlemaine Goldfields Pty Ltd (CGT) and is a successful gold explorer and producer with four significant goldfields in central Victoria. Our primary focus is the high-grade underground gold mine in Ballarat.
The Ballarat tenement package including the mill, various equipment and substantial mine development was acquired from Lihir Gold in March 2010.
First gold production commenced during the third quarter of 2011. Mining techniques are based on a combination of ore generated from the development along the strike of the ore zone, mechanised drift and fill plus longhole bench stoping.
Mining at Ballarat Gold Mine aims to maintain a production rate of 40,000 to 50,000 ounces of gold per year from underground drilling programs targeting resources adjacent to existing workings and that have significant additional potential for mine life extension.
To be a profitable and industry-leading gold producer.
We aim to:
• successfully commercialise the Ballarat Gold Mine.
• Conduct targeted exploration within the Ballarat Gold Mine to identify further ore sources which will add production capacity and extend mine life.
• Exploration applied across the Company's four central Victorian tenement packages to identify future potential production opportunities.
• Convert more of the company's highly prospective tenements into commercial gold production to take further advantage of the world-class infrastructure at Ballarat and make it the modern production epicentre for the company's assets.
• Utilise cash flow generated from the Ballarat Gold Mine to pursue other business growth opportunities.
Ballarat Gold Mine is a significant economic contributor in Ballarat. In September, 2019 there were 165 direct employees and 52 contractors (Full Time Equivalent). Approximately 80% of our employees live in Ballarat.