Another Queensland gold mine could be converted into pumped hydro project

Another Queensland open pit gold mine could soon be converted into a mammoth pumped hydro storage project after its developers this week submitted the environmental impact statement to state authorities.

The Mount Rawdon pumped hydro project is being developed by a subsidiary of Evolution Mining, the owners and operators of the Mount Rawdon gold mine, and an investor group managed by ICA Partners.

The project would be capable of up to 2GW of generation and 10 hours (20 GWh) of renewable energy storage. That makes it significantly bigger than the Kidston pumped hydro project, located in another former gold mine, that is under construction and will offer capacity of 250 MW and eight hours (2 GWh) of storage.

The Mount Radon proponents say a purpose-built upper water reservoir would be created on land adjacent to the existing gold mine which would be capable of storing water required to meet its electricity storage ratings.

The lower water reservoir would repurpose the existing open cut pit, once mining is complete. Tunnels connecting the upper and lower reservoirs would then be created in a closed loop system, while an underground powerhouse would contain the hydro generation units.

Evolution Mining and ICA Partners say the environmental impact statement (EIS) for the project to the Queensland Co-ordinator General’s office for assessment.

According to the developers, their EIS describes “a unique and low impact pathway to convert Mount Rawdon from a gold mine nearing the end of its mine life to a large-scale, long life renewable energy generation and storage asset.”

“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,” said Jake Klein, executive chair of Evolution Mining.

“Mt Rawdon is set to become a 20,000MWh 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.”

The feasibility study completed by the developers demonstrated that the project could deliver lower power prices for local consumers, saving almost $13 billion off total market costs in its first 20 years of operations.

The project’s current pipeline expects financial close in the fourth quarter of 2025. Mount Rawdon Gold Mine will cease mining in 2024, with ore processing to end a year later. There is no concrete target for potential operations.