Ramelius Lifts 2030 Gold Output Forecast to 610k Oz
Ramelius Resources raised its 2030 production outlook by 11% to a maximum of 610,000 ounces, backed by A$1bn in liquidity.
Key points
- Ramelius forecasts FY2030 gold production of 560k-610k oz, an 11% uplift from prior plans.
- The company holds over A$1bn in cash and investments to fund A$480m-570m FY2027 capex.
- Mt Magnet mine life extends to 2043, with sustaining costs targeted at A$2,100-2,400/oz.
Ramelius Resources has revised its medium-term production outlook, projecting gold output between 560,000 and 610,000 ounces for the 2030 financial year. This adjustment represents an 11% increase from the company’s previous October 2025 plan and a 205% rise compared to its expected 2026 production levels.
The update, reported by Mining Weekly, underscores a strategic shift toward higher volume targets while maintaining a sector-leading cost position. The company attributes the uplift to systematic unlocking of the Mt Magnet hub’s potential and reduced operational risks at the Rebecca-Roe project through advanced permitting and design work.
Capital Expenditure and Cash Flow
To support this growth trajectory, Ramelius plans to allocate between A$480-million and A$570-million in growth capital expenditure for the 2027 financial year. A significant portion, A$280-million, is dedicated to upgrading the Mt Magnet plant to accommodate future production expansions and evolving ore types.
The company states that these growth plans are fully funded, with current cash, gold, and investment holdings exceeding A$1-billion. Management expects this financial position to generate substantial free cash flow, potentially reaching A$1.5-billion in the 2030 financial year.
Cost Efficiency and Mine Life
Despite industry-wide cost pressures, Ramelius aims to maintain its all-in sustaining cost between A$2,100 and A$2,400 per ounce. CEO Mark Zeptner notes that an A$35-million investment in the Galaxy and Cue operations during FY2026 displaced 5.6-million tonnes of lower-grade material, enhancing long-term value.
The company projects that Mt Magnet will become a top-ten global gold production hub by 2030. The mine life is extended to 15 years, reaching out to 2043, driven by organic growth strategies focused on exploration and infrastructure optimization.
Near-Term Guidance and Operations
For the 2027 financial year, Ramelius has set production guidance between 205,000 and 225,000 ounces. The company continues to focus on derisking the Rebecca-Roe operation through permitting progress, ensuring a stable pipeline of resources to support the broader 2030 targets.
