Ramelius Resources Limited is an Australian gold mining company headquartered in Perth, Western Australia. It is listed on the Australian Securities Exchange (ASX: RMS) and is a constituent of the S&P/ASX 200 index. [1]
The company is a mid-tier gold producer that operates two major production and processing hubs in Western Australia: the Mt Magnet gold mine in the Murchison region and the Edna May gold mine in the Wheatbelt region. Ramelius uses a "hub and spoke" operating model, where ore from various satellite open pit and underground mines is transported to these central processing plants. [2]
For the financial year ended 30 June 2025, the company reported record revenue of A$1.2 billion and a net profit after tax of A$474.2 million. [3]
History
Early years and Wattle Dam (2003–2010)
Ramelius Resources was established in 2003 and listed on the ASX in March of that year. The company's early growth was driven by the discovery and development of the Wattle Dam gold mine, located near Kambalda. Mining at Wattle Dam commenced in 2006. The mine funded the company's subsequent exploration and acquisition strategies. Wattle Dam ceased production in 2013 after producing approximately 266,000 ounces of gold. [4]
Expansion and acquisitions (2010–2019)
In July 2010, Ramelius acquired the Mt Magnet gold project from Harmony Gold for A$40 million. [5] This acquisition secured a long-life mine that became the company's largest operation. The Mt Magnet operation includes the Hill 50 mine, which had previously been Australia's deepest underground gold mine.
In 2015, the company acquired the Vivien gold mine near Leinster, which served as satellite feed for the Mt Magnet mill.
In October 2017, Ramelius purchased the Edna May gold mine from Evolution Mining for A$90 million. This acquisition established a second processing hub, allowing Ramelius to expand its footprint into the Westonia Greenstone Belt. [6]
Recent developments (2020–Present)
From 2020, Ramelius pursued a growth strategy through the acquisition of junior explorers and undeveloped deposits to feed its existing hubs:
In 2020, Ramelius acquired Spectrum Metals, securing the Penny West project (now the Penny Gold Mine). [7] In 2022, the company acquired the Rebecca Gold Project through the takeover of Apollo Consolidated. In 2023, Ramelius acquired Breaker Resources to secure the Lake Roe Gold Project. The proximity of Lake Roe to the Rebecca project (approximately 50 km apart) led to the combination of these assets into the Rebecca-Roe development project. [8] In 2023, the acquisition of Musgrave Minerals added the Cue Gold Project to the company's portfolio, providing another satellite source for the Mt Magnet hub. [9]
In 2025, the company reported record financial results, driven by ore from the Penny and Cue deposits and a strong gold price environment.
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A$1.20 billion (2025)