Ora Banda Mining at Mining Forum Americas 2026: scaling up toward 300,000 ounces

Ora Banda Mining (OBM) showcased a bold growth strategy at Mining Forum Americas 2026, aiming to double its gold production to more than 300,000 ounces by FY29. The mining company, which reported a significant turnaround in FY26 with 140,000 ounces of gold production, is investing AUD 375 million in a new 3 million-tonne-a-year mill to support its expansion plans.

The company highlighted a robust balance sheet, including $260 million in cash and a $200 million revolving credit facility, providing it with $460 million in liquidity. Exploration spending in FY26, amounting to AUD 75 million, led to substantial resource additions, with more than 1.5 million ounces of resources discovered and reserves doubling.

Despite operating a subscale mine in FY23, Ora Banda is now entering a new phase under its DRIVE to 300 plan. CEO Luke emphasized that the past four years have focused on fixing the company’s challenges, with the next two years dedicated to growth. The new mill, expected to reach full operation in the first half of 2028, will increase capacity from 1.2 million to 3 million tonnes a year, adding about AUD 9 million in operating costs annually.

The project, nearing completion, includes upgrades to airstrips, assay labs, roads, and camps. Ora Banda's strategic focus on scale and lower unit costs aims to create a more stable production environment, supported by a hedging program that protects against gold price fluctuations during the buildout.