The cost will be about as much as a return trip on chairlifts - about $35, Mr Copland said. In winter it will be mainly used by skiers, but there will also be people who want to sled, build a snowman or go to the Knoll Ridge Cafe.
In summer sightseers taking it will be able to take short walks, including one to a ridgeline with amazing views.
RAL already has a gondola concept design. It is now working on engineering details.
Funding is being sought from Government and local individuals and businesses, Mr Copland said. When agreements are reached he will know how much RAL itself is paying.
His company is a public benefit entity, started mainly for skiers. It owns assets at Whakapapa and Turoa ski areas and has 4000 shareholders. Under its constitution all profit it makes must be reinvested.
The proposed spend on the gondola follows $22 million spent on Whakapapa in the past 18 months, and $25 million spent at Turoa in 2007.