Northern Star Resources continues to make strides in both its business expansion and its commitment to sustainability during its latest ASX announcement.
The recent acquisition of the Millrose Gold Project from Strickland Resources adds high-value ounces to Northern Star's portfolio all while making significant steps towards renewable energy integration at their Jundee site.
The Millrose Gold Project, boasting a Mineral Resource of 346koz gold at a grade of 1.80g/t, holds great promise for Northern Star. Situated just 40km east of the Jundee Operations, the project is expected to serve as a supplementary feed source for the Jundee mill, enhancing the existing underground base load.
Managing Director of Northern Star, Stuart Tonkin, expressed enthusiasm about the acquisition, stating, “The acquisition of the Millrose Gold Project presents a very compelling development opportunity that is accretive to the Jundee life of asset plan as it should deliver us a sizeable low cost, high-grade supplementary resource feed,” he said.
“This bolt-on acquisition, which also comes with significant brownfields exploration upside, will provide us with further confidence to plan organic and profitable growth for Jundee, which already is the lowest cost asset in our tier-1 portfolio.”
In addition to this exciting development, Northern Star is taking significant steps to reduce its carbon footprint and transition to renewable energy sources. The company has set an ambitious target of reducing its carbon emissions by 35% by 2030. Building upon the success of solar implementation at the Carosue Dam Operations, Northern Star has identified Jundee as the next operation in its portfolio to prioritise substantial reductions in carbon emissions.
By implementing solar and wind energy solutions, Northern Star aims to achieve a reduction of 32,500 tonnes of CO2-eq by FY24. However, the company's commitment to sustainability goes beyond expectations. Recent estimates indicate that the reduction could be as high as 52,000 tonnes of CO2-eq per year, representing a remarkable 60% improvement over initial projections. The solar installation is scheduled to be commissioned by late 2023, while the wind energy system is set for commissioning in mid to late 2024.
Northern Star's commitment to renewable energy not only aligns with Gold Industry Group’s commitment to a more sustainable future but also sets the bar for the rest of the gold sector across Australia. By integrating sustainable practices into its operations, Northern Star is demonstrating the key values of a Gold Industry Group member through economic growth and environmental responsibility.
