Evolution Mining

Evolution Mining is an Australian gold mining company with projects across Australia and in Ontario, Canada.

Evolution Mining Ltd
TypePublic company
ASX: EVN
Founded2011 in Australia
Headquarters
Sydney
,
Australia
Areas served
Australia
Key people
Jake Klein (Executive Chairman)
Revenue A$1,949.1 million (2020)[1] (2020)
A$405.3 million (2020)[1]
Total assets A$3,674.6 million (2020)[1] (2020)
Number of employees
2,099[1] (2020)
Websiteevolutionmining.com.au

Evolution owns and operates mines at Cowal, New South Wales; Mt Carlton, Mt Rawdon, and Ernest Henry, Queensland; and Mungari, Western Australia.

Mine locations

The Cowal gold operation is an open-pit gold operation approximately 350 km west of Sydney. The Mt Carlton operation is approximately 150 km south of Townsville, Queensland. The Mt. Rawdon open pit gold operation is approximately 75 km south-west of Bundaberg, Queensland. The Mungari gold operation is approximately 600 km east of Perth and 20 km west of Kalgoorlie in Western Australia. The Ernest Henry copper-gold operation is operated by Glencore. It also operates the Red Lake mine, which is an underground gold mine in Northwestern Ontario, Canada.[2]

History

In 2010 Evolution moved to acquire a site at Mt Carlton in North Queensland that others considered not feasible to develop. Executive Chairman and founder, Jake Klein, and a small management team, pursued a series of deals to form Evolution in November 2011 and turned that initial resource at Mt Carlton into a high-grade open pit gold mine. It has since expanded to five mines in Australia and one in Canada.[3]

This growth has seen it become a mid-tier Australian mining company and 52 on the ASX top 200 Australian publicly listed companies.[4]

In April 2015, Evolution completed the buy-out of La Mancha Resources Australian operations, valued at A$300 million, and thereby acquired the Frog's Leg and White Foil gold mines as well as the nearby processing plant at the Mungari.[5] Mining at Frog's Leg is carried out in an underground operation while White Foil is an open pit operation, with the ore processed at the Mungari plant, which was constructed in 2013–14.[6]

Controversies

In July 2019 Evolution announced it would have to improve safety at its mines after it had 8.3 injuries per 100 workers over the year, and its safety performance worsened each quarter.[7]

In 2016, Evolution Mining was fined $95,000 after one of its workers was injured at one of its mines.[8]

References
  1. "EVN Report 2020" (PDF).
  2. Reuters Editorial. "EVN.AX - Evolution Mining Ltd Profile | Reuters". www.reuters.comundefined. Retrieved 28 May 2021.
  3. "Our Story – Evolution Mining". evolutionmining.com.au. Retrieved 28 May 2021.
  4. "Evolution Mining Ltd (ASX:EVN) Share Price - Market Index". MarketIndex.com.au. Retrieved 28 May 2021.
  5. Beattie, Fraser (20 April 2015). "Evolution in 300 million La Mancha buy". Business News. Retrieved 17 April 2022.
  6. "Mungari Operation fact sheet" (PDF). evolutionmining.com.au. Evolution Mining. Retrieved 17 April 2022.
  7. "Evolution Mining to refocus on safety". 7NEWS.com.au. 24 July 2019. Retrieved 28 May 2021.
  8. "Evolution Mining fined $95,000 after worker injured at Goldfield mine | Australian Institute of Health & Safety". www.aihs.org.au. Retrieved 28 May 2021.
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