Rox approves Youanmi FID, paving way for construction
Gold developer Rox Resources has approved the final investment decision (FID) for its wholly owned Youanmi project, in Western Australia, clearing the way for construction to begin.
The FID follows approval of the project’s Mining Development and Closure Proposal (MDCP) amendment by the Department of Mines, Petroleum and Exploration, which enables the development of key infrastructure including the processing plant, tailings storage facility and power station.
The project is now fully funded through to production, supported by A$350-million in credit commitments from a syndicate of lenders, alongside a A$200-million capital raise and an A$18-million share purchase plan.
Construction activities are set to begin immediately, Rox said in a statement on Tuesday, noting that bulk earthworks were expected to start shortly and contracts for major infrastructure, including the power station and oxygen plant, would be awarded on a build-own-operate basis.
Early works are already under way, including accommodation construction and procurement of long-lead items, while the company progresses towards financial close, expected in the September 2026 quarter.
A separate Works Approval submitted in January is on track for approval in the second quarter of 2026, supporting Rox’s development timeline.
The company is targeting first gold production from Youanmi by mid-2027.
