Evolution Mining Limited (ASX:EVN) is an Australia-based gold mining company engaged in the exploration, development, operation, and sale of gold and gold-copper concentrates. The company operates six mines comprising five wholly-owned assets--Cowal open pit and underground gold mine in New South Wales; Ernest Henry large-scale underground copper-gold mine in Queensland; Mt Rawdon open pit gold mine in Queensland; Mungari gold mining and processing hub in Western Australia; Red Lake premier underground gold mine in Ontario, Canada--and an 80% interest in the Northparkes underground and open pit copper-gold mine in New South Wales. Evolution Mining produces approximately 750,000 ounces of gold annually at an all-in sustaining cost of $1,572 per ounce alongside 76,000 tonnes of copper, with mineral resources of 30 million ounces of gold and 4.4 million tonnes of copper as of December 2024.
Founded in 2011 through the merger of Conquest Mining and Catalpa Resources with the acquisition of Newcrest Mining's Cracow and Mt Rawdon gold mines, Evolution Mining is headquartered in Sydney, New South Wales, and conducts operations across Australia and Canada targeting Tier 1 jurisdictions.
Recent developments include the full acquisition of 100% ownership in Ernest Henry copper-gold mine; completion of the $250 million Mungari plant expansion ahead of schedule and under budget to 4.2 million tonnes per annum capacity boosting production by 48%; cessation of mining at Mt Rawdon after a 25-year mine life; commissioning of the Cowal underground mine into commercial production; acquisition of an 80% stake in Northparkes copper-gold mine; board approval for the Ernest Henry Mine Extension Project feasibility study; finalization of a joint venture with Surge Battery Metals for the Nevada North Lithium Project closing December 2025; regulatory extension of Cowal operations to 2042; and record FY25 operating mine cash flow of $2.3 billion with underlying profit after tax of $958 million.