Rox Resources has given the green light to the final investment decision (FID) for the Youanmi gold project, marking the immediate start of its construction phase in Western Australia.
A Key Step Following Regulatory Approvals
First, the FID approval comes after the project received the authorized modification of the Mine Development and Closure Proposal (MDCP). This approval from the Department of Mines, Petroleum and Exploration allows progress on the project’s major infrastructure.
The planned works include the processing plant, a new tailings storage facility (TSF3), and an energy system incorporating solar generation. Additionally, conversion of existing areas is planned to optimize mining operations.
Youanmi Investment Drives Project Development
On the other hand, one of the most significant aspects is that the project has full financing. The company secured debt commitments of approximately A$350 million, complemented by an equity placement of A$200 million and an additional share purchase plan.
This financial backing enabled the board to make the investment decision and move toward financial close anticipated for the third quarter of 2026.
Immediate Construction Start
Regarding execution, Rox Resources will initiate mass earthworks and award key contracts under a build-own-operate model. Some preliminary works are already underway, including orders for critical equipment and construction of accommodation facilities.
Additionally, approval of additional permits is progressing on schedule, reinforcing the project’s path to production.
Gold Production in 2027
Finally, the company maintains its target of achieving first gold pour in mid-2027. This progress positions the Youanmi project as one of the most significant gold developments in Western Australia in the near term.
With this decision, Rox Resources consolidates its transition from explorer to producer, supported by a structured development strategy and solid financing.
Source: Rox Resources
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