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Collapsed mine will reopen under new management

Beaconsfield Mine and Heritage Centre
Beaconsfield Mine and Heritage Centre

A precious metal operation has been sold after it was shut down for years following a deadly collapse in Tasmania’s West Tamar area.

NQ Minerals has completely acquired BCD Resources’ Beaconsfield Gold Mine, 50km northwest of Launceston for an estimated $2 million.

All parties have finished signing the necessary agreements and making the final payment to transfer ownership of the historic operation.

Tragic past

The underground mine has been closed since 2012 due to a drop in gold commodity prices. A 2.3 magnitude earthquake triggered a rock fall in 2006, trapping three mine workers 1km underneath the surface for two weeks until emergency services finally reached them.

One of the mine employees passed away before being rescued.

Revival plan

The buyer plans to recommission the Gold Processing Plant, which has been in care and maintenance, and reopen the mine. This will involve building a new and modern mine decline access to allow large modern mining equipment, workers, materials and rock from surface to be cost-effectively transported anywhere in the mine.

None of the jobs are advertised yet. Enquiries will need to be directed to the recruitment team at recruitment@nqminerals.com

The operation is predicted to return to profitability since gold spot prices have increased by 64.9 percent since 2012 to $2578.46 per troy ounce (31.1 grams), according to the world spot price on the Melbourne Gold Company website at the time of publication.

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“The company is now focused on bringing the Beaconsfield Gold Processing Plant back into operational status as soon as practicable,” NQ chairman David Lenigas said in a public statement.

“The mine has a long and rich history in Northern Tasmania, and we understand the importance of this heritage. We are looking forward to bringing jobs and economic activity back to Beaconsfield.”

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