Located 20 km east of Bendigo, Fosterville Gold Mine is Victoria's largest gold producer. Operated by Agnico Eagle Mines Limited, the high-grade, low-cost underground mine has been in operation since 2005. As of December 31, 2024, it boasts gold reserves of 1,650,000 ounces. In 2024, the mine produced 225,203 ounces of gold at a total cash cost of $647 per ounce. The mine's life is projected to extend until 2033. In May 2025, the Victorian government approved an expansion plan, expected to inject $1.3 billion into the local economy over the next decade and create over 1,000 jobs. Fosterville Gold Mine continues to be a significant contributor to the region's economy and employment.
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