Evolution Mining and ICA Partners are pleased to announce that the Environmental Impact Statement (EIS) for the Mount Rawdon Pumped Hydro Project (Project) has reached an important milestone and has been submitted to the Queensland Co-ordinator General’s office for assessment.
The EIS for the Project is a comprehensive study that demonstrates a unique and low impact pathway to convert Mt Rawdon from a gold mine nearing the end of its mine life to a large-scale, long life renewable energy generation and storage asset. It identifies Mt Rawdon Pumped Hydro as critical in the provision of secure, reliable and clean power to central and southeast Queensland as coal fired generators are progressively retired.
The EIS demonstrates a significant social benefit in the form of employment, training and regional development for the Wide Bay Burnett region, and the material contribution that the Project can make to Australia’s decarbonisation aspirations and international commitments. Over $7 billion will be invested through the construction phase and establishment of a new power generator, should the Project proceed.
The recent passing of the Clean Economy Jobs Act 2024 and the Energy (Renewable Transformation and Jobs) Act 2024 on 18 April 2024 has secured Queensland’s spot at the centre of a global energy transformation. Mt Rawdon Pumped Hydro is ideally positioned as an essential enabler of this transformation.
Mr Jake Klein, Executive Chair Evolution Mining, said, “We are very proud that Mt Rawdon will be the first operating gold mine that, upon reaching the end of its mining life, will be repurposed as a significant renewable asset critical to Australia’s clean energy future.
“Mt Rawdon is set to become a 20,000 MWh pumped hydro storage facility capable of powering up to two million Queensland homes every evening, providing essential firming capacity in Queensland’s transition to renewable energy. The recently completed Feasibility Study demonstrated that Mount Rawdon Pumped Hydro is economically and socially attractive and will be the lowest cost pumped hydro generation project per megawatt of capacity in Australia.
“At a time when concerns about the cost of living and energy security are at an all-time high, the Feasibility Study shows that the Project can deliver lower power prices for Queenslanders saving consumers almost $13 billion in its first 20 years of operation. This translates into a one-off $2,700 increase in the average real income of all current residents of Queensland, or approximately $6,400 per household.
“The Mt Rawdon Gold Mine has operated for almost 25 years with ongoing, outstanding support from the local community and Traditional Owners. We acknowledge all stakeholder input that has been invaluable in shaping the Feasibility Study and EIS and remain committed to continuing to collaborate, engage and maintain these positive relationships.
“We also thank the Queensland Government for their outstanding foresight and ongoing support in understanding the strategic importance of this Project and granting it coordinated project status in June 2022,” Mr Klein concluded.
Mr Michael Siede of ICA Partners explained the genesis of the Project: “In 2018, ICA Partners identified that firming capacity was the most strategic component of Australia’s transition to a renewable power grid. This prompted the commencement of a comprehensive national study to determine the most suitable site to develop a pumped hydro energy storage project.”
“Mt Rawdon’s low cost is due to its favourable topography, synergies with the existing mining operation, close proximity to the transmission grid and excellent accessibility. The project is located between Brisbane and the energy intensive industrial hub of Gladstone.”
“This culminated in a vision that was developed collaboratively between Evolution Mining and ICA Partners to convert Mt Rawdon into a pumped hydro facility. The submission of the EIS is a critical milestone in achieving this vision.”
For further information please contact:
Michael Vaughan
Media Relations Fivemark Partners
Tel: +61 422 602 720
