The McPhillamys Gold Project near Blayney in Central West New South Wales has taken a significant step towards development after Regis Resources unveiled a revised engineering plan designed to overcome a major regulatory setback that stalled the project nearly two years ago. The company says a new pre-feasibility study has demonstrated a viable alternative for managing mine waste, placing the billion-dollar project back on track.

The project was effectively halted in August 2024 after the Federal Government issued a Section 10 declaration under the Aboriginal and Torres Strait Islander Heritage Protection Act. The decision prevented construction of the originally proposed tailings storage facility because of concerns about the protection of a culturally significant site associated with the Belubula River. The ruling forced Regis Resources to suspend development and write down the value of the project while searching for an alternative solution.

Rather than abandoning the project, Regis undertook extensive engineering studies and has now proposed a new Integrated Waste Landform (IWL) approach. Instead of storing tailings in the previously planned facility, the revised design uses filtered tailings that would be co-disposed with waste rock in a specially engineered landform within the approved project footprint. The company says this approach removes the need for the previously rejected tailings dam while maintaining environmental and operational standards.

The updated pre-feasibility study has also reinstated the project's 1.89-million-ounce gold ore reserve, confirming the mine's long-term economic potential. Under the revised plan, McPhillamys is expected to produce an average of about 190,000 ounces of gold annually during its first nine years of operation. At current gold prices, Regis estimates the mine could generate billions of dollars in revenue while supporting hundreds of jobs during construction and operations.

Regis Resources Managing Director Jim Beyer said the revised strategy demonstrates the company's commitment to progressing the project despite earlier setbacks. The company is continuing legal action seeking judicial review of the 2024 heritage decision while simultaneously pursuing approvals for the alternative mine design, associated water pipeline and electricity infrastructure. This dual-track strategy is intended to maximise the chances of bringing the project into production.

The proposed mine remains an important economic project for the Central West region, with supporters highlighting potential employment opportunities, business investment and regional development. At the same time, cultural heritage protection remains a key consideration, and future approvals will require detailed environmental assessments and consultation with stakeholders before construction can begin.

Regis is targeting a final investment decision in the first half of 2028, subject to receiving all required approvals. While challenges remain, the new engineering solution has revived confidence that the McPhillamys Gold Project can proceed after one of the most significant planning setbacks faced by an Australian mining project in recent years.