Bellevue: A top 20 gold mine – Australian Resource & Investment

The Bellevue gold project is poised to commence production in the second half of the year, paving the way for another high-grade, low-cost operation to enter the Australian ranks.

Bellevue – which boasts a mineral resource of 3.1 million ounces – is forecasted to rank among the top 20 gold mines in the country, operating on all-in sustaining costs of $1000–$1100 per ounce.
With an estimated annual production of 200,000 ounces of gold per annum, the mine is expected to generate $2.1 billion in net free cashflow, with an internal rate of return of 68 per cent.
The mine has an initial lifespan of 10 years, but Bellevue is confident this will be extended by ongoing exploration activities.
Bellevue is in the final stages of constructing a one-million-tonne-per-annum (Mtpa) processing facility in support of the site. According to the company, the facility shows the potential to increase to 1.2Mtpa with no additional capital investment.
The company also announced its net zero target for the Bellevue gold project, which it aims to meet by 2026. Underpinning this goal is a renewable energy power station with a 70 to 80 per cent renewable energy penetration rate.
The flagship gold mine has been a long time coming for Bellevue, and the company has been restructuring its board with first production just around the corner.
Darren Stralow, who has been Bellevue’s chief executive since late 2021, was recently promoted to managing director and chief executive officer of the company.
Stralow is a mining engineer with extensive commercial and operational experience. He previously held a number of senior roles at Northern Star Resources, including chief development officer, and led the integration of Northern Star’s Australian business units.
At Bellevue, Stralow has played a major role in ongoing funding activities, including the recent capital raising and debt draw-down.
Bill Sterling has been appointed chief operating officer to assist with the transition.
Sterling is an engineer with previous experience in senior roles at Northern Star. He was general manager at Northern Star’s Jundee gold mine, Kalgoorlie operations, and Bronzewing.
Sterling has served as Bellevue’s general manager since January last year.
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