Gold miner Evolution Mining, in cooperation with financial consultancy ICA Partners, is developing the Mt Rawdon Pumped Hydro Project in the Australian state of Queensland.

The plan is to use an enormous pit dug from decades of mining at Evolution Mining’s Mt Rawdon gold mine as the lower reservoir in the pumped hydro facility. The low-grade gold mining operation there is scheduled for closure in 2027.

The Mt Rawdon project aims to provide 2 GW of energy for 10 hours. The full feasibility study for the project is already underway and is set for completion by mid-2023. Queensland’s Coordinator-General has declared it a “coordinated project,” which will help to streamline and expedite development.

Like all pumped hydro projects, the plan is expected to be expensive, but the company’s executive chair, Jake Klein told The Australian last year that the Queensland government might be interested in acquiring the project, if the feasibility study shows enough promise.