Regis Resources to expand gold production with two new mines

Australian gold miner Regis Resources (ASX: RRL) has greenlit construction of two new underground mines, forecast to deliver between 100,000 oz. and 120,000 oz. of the precious metal per year from 2027.

The development of the Garden Well Main and Rosemont Stage 3 mines are part of the company’s strategy to expand underground operations at its Duketon project in Western Australia, Regis said.

Regis will spend between A$120 million and A$150 million (US$80 million to US$99 million) in capital to build the two new mines, with development starting immediately. First ore from stopes is scheduled between July and September of 2026, which is Regis Resources’ first quarter of the 2026 financial year.

The company, which is third largest Australian gold producer listed on the ASX has several projects across Duketon it’s considering developing as potential feed sources.

“We are well on the way to operating four to five underground mines at Duketon to deliver sustainable gold production of 200,000 to 250,000 ounces of gold each year,” managing director and CEO Jim Beyer said.

“We also continue exploring for additional high value, large scale open pits across our dominant holding across the Duketon Greenstone Belt.”

Between 2019, when it declared an initial underground reserve for its Rosemont project, and the end of calendar year 2022, the gold miner expanded reserves at Duketon by nearly 170%. In the same period, Regis produced 151,000 oz. of gold from its underground mines.