Maritana Minerals steps up WA gold plant rebuild ahead of first pour
Maritana Minerals’ (ASX: MRT) push to become Kalgoorlie's next significant gold producer is taking tangible form, with construction at its 2.5-million-tonne-per-annum Black Swan processing hub (BSPH) entering its final phase.
The company says it has begun pouring concrete for the foundations of its new carbon-in-leach (CIL) circuit and has extended its early works agreement with GR Engineering Services to keep the project steaming ahead towards first gold, targeted for the second half of 2027.
Maritana has extended its early works agreement with GR Engineering to the end of December 2026, adding a committed cost of A$19.9 million. The company says the move will maintain momentum on detailed engineering, long-lead procurement and bulk earthworks while the final engineering, procurement and construction (EPC) contract is bedded down.
With all key statutory approvals for construction in place, Maritana says on-site work is accelerating. The company completed demolition of redundant front-end infrastructure last month, clearing the path for new conveyors and a fresh regrinding circuit.
Civitech has now begun pouring concrete for the first of the new CIL tank foundations. In parallel, refurbishment of the existing plant is progressing, with Maritana noting the plant’s SAG mill recently rotated for the first time in 17 years, marking a significant mechanical milestone and relief for management.
The company's golden plan hinges on creating a central processing hub to treat ore from a suite of its satellite deposits scattered across the company's vast 1167-square-kilometre landholding, almost all within a 100km radius of Kalgoorlie. To accommodate this, bulk earthworks are underway to expand the run-of-mine (ROM) pad, allowing separate stockpiling and blending of ore from multiple mining operations.
Procurement for long-lead items is also well advanced, with Maritana stating it remains on track for a mid-2027 mining restart at its Boorara project, 16km southeast of Kalgoorlie, likely to form a key source of initial feed for the BSPH.
This is more than a plant refurbishment: we are building a regional gold processing hub for multiple Kalgoorlie ore sources, targeting first gold in H2 CY2027. Maritana Minerals Managing Director and CEO Grant Haywood
Supporting Maritana's overall strategy is a colossal combined mineral resource of 41.8 million tonnes at 1.6 grams per tonne (g/t) for 2.15 million ounces of contained gold spread across multiple deposits, including established ore reserves of 235,600 ounces. That figure is expected to grow as soon as March of next year, with a raft of recent drilling results both expanding and infilling the company's existing deposits.
Maritana says its staged tailings strategy is gathering pace, with an upgrade of its existing tailings storage facility set to go out to tender shortly. The expansion is expected to provide three years of processing capacity, buying valuable time to develop a new, longer-term facility.
Maritana has also appointed experienced industry operator Chris Mardon as its new general manager operations. Mardon previously held senior roles with Focus Minerals and Mineral Resources and is now set to lead the charge from construction to production at Black Swan.
The company says it is well-funded to deliver its vision, holding A$215 million in cash with no debt at the end of last quarter, following a timely and massive A$175 million placement in February of this year.
With a war chest of cash, a growing group mineral resource of more than two million ounces and concrete now pouring at its Black Swan hub, Maritana is steadily assembling the pieces of what could become the State's next mid-tier gold producer.
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