New large-scale mining operation on track for commercial production by 2027.
New Zealand's next major gold mine, Snowy River, is progressing towards commercial production by the end of 2026, according to Resources Minister Shane Jones. The project, operated by Federation Mining in Reefton, will create 250 local jobs and contribute $350 million to the government's goal of doubling mineral exports revenue to $3 billion by 2035.
Federation Mining has secured over $200 million in capital, including an investment from AustralianSuper, Australia's largest superannuation fund. The company is now focused on developing its processing plant, with construction set to begin in mid-2025 and creating around 160 jobs over the next year. As part of its recruitment efforts, Federation Mining is working with local communities to provide affordable housing for future workers.
The Snowy River project targets gold production by the end of 2026 following nearly 25,000 meters of exploration drilling. Minister Jones highlighted the commitment to improved environmental outcomes, including water management and native plant establishment. The project has already pumped $2.9 million into New Zealand's regional economy in February alone, with over $1 million going directly to the West Coast.
Federation Mining's partnership with local businesses and community organizations is seen as a model for modern mining in New Zealand. Minister Jones congratulated the company on its progress and acknowledged the collaboration between Federation Mining, communities, iwi, and local regulators.