Ramelius Resources (ASX: RMS) passed a critical hurdle this week with Western Australia’s Environmental Protection Authority approving the Ramelius Roe Project. It means the project will no longer need to undergo a full environmental assessment and can proceed with construction.
Ramelius Roe Project Gets a Faster Approvals Path
The EPA has told Ramelius that the Ramelius Roe Project can go through the Part V works approval process. This process sits under the Environmental Protection Act. It does not need a full Part IV formal review, which is the slower and less certain route.
Ramelius Roe Project
The company already knows how Part V works. That same process was used for the Rebecca side of the project, so the team is not starting from scratch. In fact, the Part V submission for Roe is already running in parallel. There are no gaps in the approval chain, and the project keeps moving. The EPA decision came through on 25 June 2026.
Why This EPA Ruling Changes Things
The Ramelius Roe Project sits around 150km east of Kalgoorlie in the Western Australian goldfields. It is the second half of the combined Rebecca-Roe Gold Project. Rebecca had its environmental sign-off long before today. Roe was the one piece still outstanding, and that piece has now fallen into place.
Managing Director Mark Zeptner welcomed the ruling directly. “This is a vital milestone in the approvals process for the Roe project. The EPA’s decision reflects the thorough nature of our environmental planning and commitment to responsible development,” he said. With that uncertainty gone, early works at the Ramelius Roe Project are now locked in for late 2026.
The FID Is Now Fully Unconditional
Before today, the Ramelius board had already made a Final Investment Decision on the combined Rebecca-Roe Gold Project. However, that decision carried one condition. The Roe environmental permit had to be in place before the FID could be treated as fully active. That condition is now met.
As a result, the company can move straight into construction planning. No further approvals to be considered. Construction works commence mid-2026 with early works; full plant construction throughout 2026 and 2027; and initial production is targeting the middle of 2027. The schedule is defined.
Rebecca-Roe Project Numbers at a Glance
The Final Feasibility Study completed in Oct 2025 confirms that both components of the combined project demonstrate compelling financial outcomes. Summarized are key results:
| Metric | Figure |
| Average annual gold production | 130,000 oz |
| Mine life | 9 years |
| Total mine plan | 1.1Moz |
| Processing plant capex | A$190 million |
| After-tax NPV (A$3,500/oz base) | A$332 million |
| After-tax NPV (A$4,000/oz scenario) | A$610 million |
| All-In Sustaining Cost (AISC) | A$2,346/oz |
Numbers that place Rebecca-Roe as one of WA’s more attractive development-stage gold prospects. It also slots neatly into Ramelius’ existing hub and spoke approach in place at its’ Mt Magnet project to help constrain operating costs.
Where the Ramelius Roe Project Sits in the Bigger Plan
The Ramelius Roe Project is a core part of the company’s push to hit 500,000 oz of gold per year by the 2030 financial year. Rebecca-Roe is the single biggest contributor to that output target. Without it, the five-year growth plan simply does not add up.
In addition, it will transfer the Dalgaranga gold mine to its Mt Magnet hub following acquisition of Spartan Resources in July 2025. The Never Never underground mine at Dalgaranga started sending ore to Mt Magnet in February 2026. These steps are building output before the Ramelius Roe Project even turns a wheel.
The Company Is Paying for This Itself
Ramelius does not need to go to the market to fund the Rebecca-Roe construction. As of December 2025, the company held roughly A$0.9 billion in available equity. That number covers cash on hand, gold at spot prices, and an undrawn credit line.
The 2025 financial year just demonstrated how powerful cash generation has been, with revenue reaching A$1.203 billion from sales of 302,882 ounces of gold to establish a new record level. Net profit after tax in FY2025 was A$474.2 million, or 119% higher than FY2024.
Furthermore, Ramelius stated that it is going to embark on a A$250 million share buy-back while increasing the company’s minimum dividend for FY2026 and FY2027 to A$0.02 per share; this rewards its shareholders while funding the development and build-out of the Ramelius Roe Project.
Key Steps Already Completed on the Way to Production
- EPA rules Ramelius Roe Project proceeds under Part V with no formal review needed
- Board FID on Rebecca-Roe is now fully unconditional
- Native Title Mining Agreement signed with Kakarra Part B holders in December 2025
- Part V submission is already running in parallel
- Early works set to begin late 2026
- First gold from the Ramelius Roe Project targeted for mid-2027
Every milestone has been ticked off. Approval is signed. We’ve got the cash flow. The schedule now tells us when we start building.
FAQs
- What is the Ramelius Roe Project?
The Ramelius Roe Project is a gold development around 150km east of Kalgoorlie in Western Australia. It is part of the larger Rebecca-Roe Gold Project alongside the already-approved Rebecca deposit.
- What did the EPA decide on the Ramelius Roe Project?
The EPA confirmed the Ramelius Roe Project can move through the Part V works approval process. It does not need a full formal environmental assessment under Part IV.
- When will early works begin at the Ramelius Roe Project?
Early works at the Ramelius Roe Project are scheduled to start in late 2026, after the EPA approval pathway decision on 25 June 2026.
- When will the Ramelius Roe Project produce gold?
First gold from the Ramelius Roe Project is targeted for mid-2027, once plant construction wraps up across late 2026 and 2027.
Disclaimer
This article contains updates concerning Ramelius Resources’ Rebecca-Roe Gold Project. Information has been collated from company statements and public sources, but is provided for general informational purposes only. This content is not financial, investment, legal, or tax advice. Investors are advised to conduct their own independent research and seek professional advice before making investment decisions concerning Ramelius Resources, or any company discussed.
Colitco is not liable for any actions resulting from this information.
Sources
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