Golden opportunity for expansion
Published on 11 December 2017
Northern Grampians Shire Council has welcomed news of the successful sale of the Stawell Gold Mine as an investment in the potential future growth of Stawell and the shire at large.
Melbourne-based private equity group Arete Capital Partners announced that it had officially acquired a 100 percent controlling interest in the Stawell Gold Mine and its related assets across Western Victoria on Sunday, after completing a deal with the previous owner, Canadian company Kirkland Lake Gold.
Northern Grampians Shire Council Mayor, Cr Tony Driscoll, said Council welcomed the investment and would work with the mine’s new owners to facilitate any further developments.
“Any investment in potential jobs and growth within the Northern Grampians Shire is a welcome investment as far as this Council is concerned,” Cr Driscoll said.
“We realise that the suspension of works at the mine in 2016 impacted upon many of our residents, and hopefully, this will provide much-needed expansion in terms of employment for our region.
“What this demonstrates is that Stawell, and the Northern Grampians Shire at large, is a prime location for investment, and Council continues to work hard in order to attract new investors to our shire, as well as working with our existing businesses to ensure their ongoing viability.”
Arete has outlined plans to commence on-site exploration in order to deliver raw material to the mine’s mill within coming weeks, with the mine’s existing workforce set to lead the site’s revitalisation.