Victoria’s Fosterville gold mine has been approved by Resources Victoria for extension through a new tailings storage facility, allowing an increase in processing capacity.
Approval of the facility, known as TSF5, marks a key step in Fosterville’s continuation, with the new facility creating a safer waste rock storage area within the existing mine footprint.
Victorian Premier Jacinta Allan said that the state is “backing” regional jobs and “securing the future” of Victoria’s biggest gold mine.
“Fosterville’s success is putting Victoria on the global mining map, showcasing our world-class resources, attracting international investment, and creating good local jobs for our regional communities,” she said.
The Canadian company that owns the mine, Agnico Eagle Mines, recounted in October that in May 2025, Fosterville received ministerial endorsement for the sustained operations project (SOP) from the Minister for Planning.
Following this, work commenced on the first work plan variation (WPV), which is required to secure approval for individual components of the project.
The establishment of the TSF5 was the first part of this, with the other critical step, an additional southern ventilation shaft, coming at a later date.
The state government said Fosterville is set to deliver a “major boost” to regional employment, with the project to support more than 1000 workers over the next decade.
It is also expected to pump $1.3 billion of investment into the regional economy over the next ten years. Currently, the Fosterville site employs 650 full-time personnel and 200 contractors, most of whom live in the Bendigo region.
Victorian Minister for Energy and Resources Lily D’Ambrosio commended the approval.
“Victoria has a long, proud history of gold mining, and this approval ensures Fosterville continues to build on that,” she said.
The approval of TSF5 also came after the environmental effects statement (EES) assessment, which found potential environmental impact to be manageable with appropriate safeguards.
Agnico said TSF5 provides a new above-ground flotation system and neutralisation to ensure continued operations, covering roughly 23 hectares within the existing precinct.
Its design allows integration with existing facilities – TSF1 and TSF4 – to form one continuous landform.
Get 50 per cent off your Australian Mining annual magazine subscription during our Black Friday sale. Visit our subscription page and use the code: AMBF25. Ends on 27 November 2025.
