New Canada gold project more than two-thirds complete & More Trending News


The development of the brand new 400 000 oz/y Greenstone mine, in Ontario, is more than two-thirds complete and stays on funds and on schedule, developer Equinox Gold reported on Wednesday.

In a development replace, the TSX- and NYSE American-listed firm reported that the primary gold pour is on observe for the primary half of 2024.

About 71% of complete capital prices had been contracted and $680-million (55%) of the $1.23-billion development funds had been spent. Inflationary pressures have been mitigated by means of offsetting financial savings alternatives or absorbed by means of the $177-million contingency included within the development funds.

“With key tools on web site or enroute, constructing infrastructure basically complete and most buildings enclosed and heated, the development effort is shifting to inside mechanical, electrical and piping set up through the winter months.

“Detailed commissioning and operation readiness planning is well under way,” stated president and CEO Greg Smith.

Construction through the first quarter will give attention to finishing enclosure of the high-pressure griding roll and course of plant east finish buildings, receiving nearly all of the remaining tools, advancing mechanical, piping and electrical installations within the course of plant and energy plant buildings, and progressing the crushed ore storage and reclaim amenities.

Four further CAT 793F haul vehicles, one other Komatsu PC5500 shovel and one other Komatsu D475A-8 bulldozer can be commissioned through the quarter, and the sewage remedy plant, potable water remedy plant and pit gasoline station for cellular tools can be commissioned and launched to operations.

Developed in a 60:40 partnership by Equinox Gold and Orion Ming Finance, Greenstone can be one of many greatest mines in Canada, producing more than 400 000 oz/y for the primary 5 years and more than five-million ounces of gold over its preliminary 14-year mine life.

New Canada gold project more than two-thirds complete

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New Canada gold project more than two-thirds complete

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New Canada gold project more than two-thirds complete

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