The operators of the Kalgoorlie Super Pit - Australia's second largest open cut gold mine - say they will extend its processing life by eight years.
The operators of the Kalgoorlie Super Pit - Australia's second largest open-cut gold mine - say they will extend its processing life by eight years.
Kalgoorlie Consolidated Gold Mines, a joint venture between Barrick Gold and Newmont Mining, says the Super Pit operation will continue to process gold until around 2029.
"While current plans have us stopping open-pit mining in 2019, processing the low-grade stockpiles has now become part of our long-term plan," KCGM general manger Russell Cole said in a statement.
"The inclusion of the stockpiles means KCGM currently plans to process gold until 2029."
The Super Pit was for many years Australia's largerst gold mine but was overtaken last year when production fell to 610,000 ounces.
Newmont's Boddington mine in Western Australia's South West is now largest gold producer, with output of 729,000oz in the year to June 2013.
Newmont is the largest gold producer in WA, according to research by BNIQ; its Boddington and Jundee mines combined with its 50 per cent stake in the Super Pit gave it output of 1.35 million oz last financial year.
Barrick was number two with output of 1.08 million oz last year but will drop down the ranks after striking deals to sell its Yilgarn South, Kanonwna and Plutonic operations to Gold Fields and Northern Star Resources respectively.
Mr Cole cautioned the closure date for the Super Pit could change if its economic viability altered due to external factors such as a low gold price, higher taxes or high labour costs.
The mine's low grade stockpiles were deemed a mining reserve in 2012.
Mr Cole said providing a nominal date for the closure of the mine ensured that adequate planning would be undertaken to minimise potential impacts.
KCGM added that it plans to close two roasters, used for extracting gold, by the end of 2015 to improve air quality.
"KCGM is committed to continually improving the way we operate and this includes our environmental management," Mr Cole said.
The two roasters will be replaced with a large ultra fine grinding mill.
The company does not plan to alter its staffing levels.
Last year Barrick, the world's largest gold mining company, cut jobs at the Super Pit mine due to increasing costs and a weaker gold price.
More than 1,000 people are employed at the Super Pit.