Evolution Mining hits record profit and production, strengthens balance sheet

Evolution Mining achieved a record statutory net profit after tax of A$926.2 million in FY25, a 119% increase from the prior year. The company produced 751koz of gold and 76kt of copper, meeting its original group guidance. This strong performance was underpinned by a record achieved gold price of A$4,300/oz and a substantial reduction in gearing from 25% to 15%.

Key operational highlights include the Mungari mill expansion completed ahead of schedule and under budget, the Cowal Open Pit Continuation Project securing regulatory approval to extend operations to 2042, and the Ernest Henry Mine Extension Feasibility Study confirming technical and commercial viability. The company also improved its Total Recordable Injury Frequency (TRIF) by 35% to 4.98 and reduced Scope 1 and 2 emissions by 17% against the FY20 baseline, progressing towards its net zero commitment.

Evolution Mining further strengthened its position by declaring a final fully franked dividend of A$0.13 per share, contributing A$3.7bn to the Australian and Canadian economies, and increasing local and regional procurement by 21%. These achievements reflect a disciplined strategy, a high-quality portfolio, and a motivated team, positioning the company for continued growth and value creation for stakeholders.