Maritana Minerals has increased the processing capacity of its Black Swan Processing Hub to 2.5 million tonnes per annum, with construction set to begin mid-2026 and first production expected in the second half of 2027.
- Processing throughput raised from 2.2 Mtpa to 2.5 Mtpa
- Construction targeted to start mid-2026 with first production in H2 2027
- Capital expenditure review ongoing amid inflation and cost deferral efforts
- Key regulatory approvals lodged and progressing
- Strong cash position of $229 million supports project advancement
Throughput Increase Enhances Production Potential
Maritana Minerals (ASX:MRT) has boosted the nameplate throughput of its Black Swan Processing Hub (BSPH) near Kalgoorlie from 2.2 million tonnes per annum (Mtpa) to 2.5 Mtpa following completion of Front-End Engineering Design (FEED) studies by GR Engineering Services. This 14% uplift in capacity could meaningfully increase the project’s gold output, supporting Maritana’s ambition to become a ~100,000-ounce per annum producer, although the company stresses this remains aspirational and subject to further studies.
Project Development Accelerates Toward Construction
Construction at BSPH is slated to commence mid-2026, with first ore processing expected in the second half of 2027. Site mobilisation is well underway, including appointment of key senior executives and an Occupational Health & Safety manager, as well as preparatory works such as removal of legacy equipment and scheduled removal of the SAG mill for refurbishment or replacement starting June 2026. The enlarged run-of-mine (ROM) pad design now accommodates quad side-tipping road trains, enhancing ore blending capabilities and stockpiling capacity.
Capital Costs Under Review Amid Inflationary Pressures
While the throughput increase is positive, Maritana flags that capital expenditure (capex) for the processing plant is expected to rise in line with the capacity uplift and ongoing inflationary pressures. The company is actively reviewing all capex items to identify cost deferrals and alternative financing options, aiming to manage expenditure without compromising the project timeline. An update on revised capital estimates and any impacts on the mine plan will be provided in due course.
Regulatory Approvals and Technical Oversight Progressing
Key regulatory approvals including works approvals, Mine Development and Closure Proposals (MDCPs), and native vegetation clearing permits have been lodged and are advancing through assessment. The appointment of Zeal Engineering as Owner’s Engineer adds experienced technical oversight to the construction phase, complementing the company’s focus on de-risking the project. A comprehensive LiDAR survey has produced a detailed digital model of the brownfield site, reducing engineering risks related to infrastructure integration.
Mining Readiness and Contracting Moving Forward
Operational readiness is gaining momentum with the appointment of MineBuild Global to oversee the restart and development of the Boorara, Coote, Crake open pits, and Cannon underground mine; the initial ore sources for BSPH. Tendering for open pit, underground, and haulage contracts is underway, with contract awards expected in late 2026 to support mining commencing in early 2027. Concurrently, drilling and technical studies continue at Burbanks and other sites to underpin future production.
Accommodation, Power, and Water Infrastructure Advancing
Maritana is advancing its accommodation strategy with designs for a permanent 60-room camp at BSPH and acquisition of a property in central Kalgoorlie approved for a 50-room camp to support nearby mining operations. Grid power connection studies are underway with Western Power, alongside completion of a diesel backup power station design for operational resilience. Water supply planning and bore field refurbishment are progressing with specialist consultants engaged to secure sustainable resources.
Bottom Line?
Maritana’s increased processing capacity and steady progress on approvals and site preparation position Black Swan for a pivotal construction phase, though capital costs remain a watchpoint amid inflation.
Questions in the middle?
- How will rising capital costs impact the overall project economics and timeline?
- Can Maritana secure all necessary regulatory approvals on schedule to meet mid-2026 construction start?
- Will contract awards and operational readiness efforts translate into on-time first production in H2 2027?