Gold exploration and development company Rox Resources’ board has approved the final investment decision (FID) for its fully owned Youanmi Gold Project in Western Australia.
This decision is a significant step forward following the approval of the Mine Development and Closure Proposal (MDCP) amendment from the Department of Mines, Petroleum and Exploration.
With this FID endorsement, construction is set to begin immediately on a new processing plant, a tailings storage facility and a power station with a solar array.
Additionally, plans include redesigning the current West Main Waste Rock Dump to function as a new run-of-mine facility.
The project is fully funded after securing A$350m ($248.1m) in credit commitments from a syndicate of banks and a recently completed A$200m capital placement, along with A$18m share purchase plan.
Rox Resources will begin bulk earthworks and award contracts for a power station and oxygen plant under a build-own-operate (BOO) model.
Early works on-site have already started, including long lead items and ongoing accommodation facility construction.
The company anticipates completing financial closure and drawing down the initial debt during the quarter ending September 2026.
Furthermore, Rox Resources submitted a Works Approval in January 2026, which is on schedule for approval in the second quarter of calendar year 2026.
This keeps the company aligned with its timeline towards production commencement.
Rox Resource managing director and CEO Phill Wilding said: “Following the commitment of debt funding and receipt of the MDCP, the board of Rox has now made its FID, paving the way for construction of the Youanmi Gold Project to begin.
“Bulk earthworks will commence shortly in preparation for these construction works, whilst the company finalises the remaining key contracts. The project is now fully funded through to production, and over coming months we will work towards financial close while ramping up on-site construction activity.
“This is a pivotal milestone for Rox Resources, allowing us to remain on schedule with our pathway towards production as we prepare for our first gold pour by mid-2027.”
“Rox Resources approves FID for Youanmi Gold Project” was originally created and published by Mining Technology, a GlobalData owned brand.
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