Equinox Gold Launched Full-Scale Construction of Greenstone Gold Mine

SEATTLE (Scrap Monster): Equinox Gold Corp. announced groundbreaking for full-scale construction at the Greenstone Gold Mine project in Ontario, Canada. The groundbreaking ceremony was held at the site yesterday, which was attended among others by Honourable Minister Rickford, Northern Development, Mines, Natural Resources and Forestry and Minister of Indigenous Affairs.

The Greenstone Mine will be capable of producing more than 400,000 ounces of gold per annum for the initial five years and over 5 million ounces (Moz) of gold over its initial 14-year mine life. According to the company, it will be one of the largest gold mines in Canada. The mine is being developed as a 60:40 partnership by Equinox Gold and Orion Mine Finance Group respectively.

Christian Milau, CEO, Equinox Gold noted that the mine is located in one of the world’s best mining jurisdictions. It will be a top-tier mine, producing gold at all-in sustaining costs in the lowest quartile of the industry. It will be a cornerstone asset for the company and a transformative project for Northern Ontario region, he added.

The mine is expected to create 800 local and 1,300 regional jobs during the construction phase and 500 jobs during operations. The first gold pour from the mine is expected by H1 2024. The initial construction capital budget for the project is approximately $1.23 billion.

YOU MAY ALSO BE INTERESTED IN:

Equinox Gold Announced Major Expansion to Aurizona Gold Mine

Equinox Gold Divested its Entire Stake in Pilar Gold Mine