Queensland's largest gold mine Ravenswood secures $1.4 billion refinancing deal
Ravenswood Gold, operator of Queensland's largest gold mine, said it had completed a A$1.4 billion ($920 million) external debt refinancing. The deal was led by a consortium that included National Australia Bank and Macquarie. The company has extended the maturity schedule to the end of 2032, and the Australian dollar gained 0.3% against the US dollar after the announcement.
The operator of the Ravenswood Gold mine in Queensland said it had completed an external debt refinancing worth A$1.4 billion (about US$920 million). The deal was led by a consortium of National Australia Bank, Macquarie and Westpac. The company has extended its maturity schedule from 2027 to the end of 2032 and said its interest cost had fallen by 75 basis points.
Ravenswood Gold CEO Steve Zaninovich said: "The refinancing gives us enough financial space for our expansion plans; our target of lifting annual production to 250,000 ounces by 2027 remains on track." The miner's gold output stood at 195,000 ounces in 2025. A Queensland State Treasury spokesman said the deal would support the 350 direct jobs at the Charters Towers operation.
The market reaction was measured but positive. The Australian dollar gained 0.3% against the US dollar after the news, rising above 0.665. Ravenswood Gold's benchmark security on the ASX climbed 5.7%. NAB analyst Steve Zarate said: "The deal provides a refinancing framework that could become a template for other Australian gold miners."
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