Equinox Gold announces groundbreaking at Greenstone mine in Ontario
(Kitco News) - Equinox Gold (TSX: EQX) todayannounced groundbreaking for full-scale construction at the Greenstone gold mine,located in Ontario, Canada, that will be held today from 2pm to 4pm EDT at themine site.
The company noted that Greenstonemine will be one of the largest gold mines in Canada, producing more than400,000 ounces of gold annually for the first five years and more than fivemillion ounces of gold over its initial 14-year mine life.
Christian Milau, CEO ofEquinox Gold, stated, "Greenstone mine will be a cornerstone asset for EquinoxGold and a transformative project for Northern Ontario."
The Honourable Doug Ford,Premier of Ontario and Minister of Intergovernmental Affairs, said, "EquinoxGold and the Greenstone Mine team have shown terrific leadership in workingwith Indigenous communities and with our government to get to this point-startingconstruction for a major project that will create jobs and bring prosperity tothe region, and to every corner of our province. This world-class gold mine isan example of what we can accomplish when we come together and work towards acommon goal."
The company said that earlyworks have been underway since March 2021, with more than $50 million of thetotal budget spent to date (on a 100% basis). The project timeline contemplatesapproximately two years of construction and six months of commissioning, withmining expected to commence in Q4 2022 and first gold pour targeted for H12024.
Equinox Gold is a miningcompany operating entirely in the Americas, with seven operating gold mines anda plan to achieve one million ounces of annual gold production from a pipelineof development and expansion projects.
By Vladimir BasovFor Kitco News
Follow kitconewsnow
vbasov@kitco.comwww.kitco.com