Northern Star lifts gold inventory as Hemi drives major growth
Northern Star Resources has reported a significant increase in its global mineral inventory, thanks to the inclusion of the Hemi project in Western Australia to the company’s portfolio.
The update shows mineral resources across the company’s asset base rising 26 per cent to 88.9 million ounces (Moz) and ore reserves increasing 27 per cent to 28.4Moz, signalling strong growth across operations in both Australia and Alaska.
Group mineral resources now total 1.62 billion tonnes at 1.7 grams per tonne (g/t), while ore reserves stand at 627 million tonnes at 1.4 g/t, underscoring the scale of Northern Star’s expanding production base.
“The results highlight Northern Star’s commitment to exploration investment, which continues to drive strong organic and inorganic growth across our expanding portfolio,” Northern Star managing director Stuart Tonkin said in a statement.
He said the inclusion of Hemi marked a major milestone for the company, establishing a new long-term production centre and strengthening future growth optionality.
Hemi now contributes 13.2Moz in mineral resources and 5.5Moz in ore reserves, making it one of Northern Star’s most significant assets.
In Western Australia’s Kalgoorlie Production Centre, mineral resources increased by 3.3Moz to 42.2Moz, driven by growth at the Kalgoorlie Consolidated Gold Mines (KCGM) operation.
Ore Reserves rose 0.6Moz to 15.0Moz, supported by infill drilling and new underground mine areas, including at Fimiston Underground.
The Pogo operation in Alaska also delivered strong gains, with mineral resources increasing by 3.1Moz to 9.3Moz and ore reserves rising to 2.4Moz.
Northern Star attributed the uplift to infill drilling, the inclusion of the maiden Star deposit, and revised economic assumptions linked to higher gold prices.
The company said exploration continues to be a key driver of value, with new resource additions achieved at an average discovery cost of less than $23 per ounce. It also maintained conservative gold price assumptions across its reporting framework.
Northern Star said its core growth centres – Kalgoorlie, Pogo and Hemi – remain central to a long-life, low-cost production pipeline positioned within the global cost curve.