Northern Star stock faces KCGM output risk as Hemi clears approvals

Published on 11/10/2026 at 20:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Northern Star stock faces a slower KCGM ramp after October output missed plan. Hemi has cleared a key environmental milestone.

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KCGM commissioning issues reduced October output and put the operation toward the lower end of its existing production range.
Group gold sales guidance remains unchanged, with production weighted toward the second half of the financial year.
Hemi has secured primary environmental approvals, but further regulatory and land-access steps remain.

Northern Star, AU000000NST8, Illustration mit AI erstellt.

Northern Star Resources said on Monday, November 9, that commissioning of the expanded KCGM processing plant remained uneven during October. In an Northern Star announcement, the company said October gold production at KCGM was below plan and that the operation was tracking toward the lower end of its existing range.

KCGM ramp-up remains the focus

KCGM produced 15.3 thousand ounces from 766 thousand tonnes milled in October. Northern Star attributed lower plant availability and throughput to commissioning issues, including intermittent motor-control problems that have been addressed and rectification work on selected equipment that remains in progress.

Plant performance was more stable in November so far, with higher availability and average throughput, the company said. The pace of the ramp-up will determine where KCGM lands within its 550,000 to 650,000 ounce fiscal 2027 production range.

Northern Star kept group fiscal 2027 guidance at 1.5 million to 1.65 million ounces of gold sold. Production is expected to be weighted toward the second half as the expanded plant ramps up, while mining at KCGM's open pit and underground operations continues to track plan.

Hemi clears primary approvals

The Hemi Gold Project in Western Australia has received its primary Federal and State environmental approvals. Northern Star described the milestone as important for advancing the project, but secondary approvals, groundwater licensing, management plans and land-access arrangements remain part of the development process.

Northern Star stock traded at 15.74 euros on Lang & Schwarz at 8:33 p.m. CET on Tuesday, November 10.