Victorian miner Bendigo Mining Ltd has acquired the Henty Gold Mine on the west coast of Tasmania from Barrick (PD) Australia Ltd.

The acquisition includes the operating underground mine, process plant, infrastructure, mineral tenements and 92 skilled employees.

The price includes $5 million cash, $3 million in Bendigo ordinary shares, and a royalty payable on production from future exploration discoveries, capped at $22 million.

'Henty is an excellent fit with Bendigo's growth strategy as it provides immediate gold production and significant exploration potential, combined with a low risk financing structure,' Bendigo said in a statement.

'The mine is planned to be immediately cash flow positive with no major capital expenditure requirements.

'There is also excellent potential to add to the production profile through already identified near mine targets (Tyndall zone) and other untested areas which are close to existing mine workings and require additional capital expenditure to develop.'

The acquisition broadens Bendigo's base. To date, it has focussed on activities in Victoria's Bendigo region.