At least 350 jobs are in for the taking once the gold mine project of Alkane Resources starts constructing in New South Wales (NSW), its first gold mine to be developed in several years. The gold mine will be located near Dubbo in the state's central west.

Around 200 to 250 new positions are expected to be created during the construction phase of the A$116 million Tomingley Gold mine project, with an additional 100 permanent roles in mining operations, a report by online portal www.miningaustralia.com.au said. The jobs will be sourced from the local region.

On Wednesday, the Planning and Infrastructure department of the government of NSW approved the construction and development of the new gold mine project, seen to produce between 50,000 to 60,000 ounces of gold annually over an expected seven-and-a-half year mine life. But anticipated additional reserves upgrades could potentially extend its mine life to a decade.

The project is expected to go online in the second half of 2013.

The entire project will be composed of three open pit mines. An underground operation is also possible to begin but after three to four years.

The Tomingley Gold Project is expected to generate A$200 million in cash flow and A$570 million in revenue. It has a resource of an estimated 812,000 ounces, composed of 12.6 million tonnes of ore grading an average 2g a tonne.

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