Equinox Starts Construction Work on One of Canada’s Largest Gold Mines
- October 28, 2021
- Posted by: Quatro Strategies
- Category: Mining
Equinox Gold starts construction work on its $1.23 billion gold mine project in Ontario, Canada, which will become one of the country’s largest gold mines. The project dubbed Greenstone Gold Mines is expected to produce more than 400,000 ounces of gold in its first five years.
The project is a 60/40 joint venture with Orion Mine Finance Group, and the facility covers 105 kms. The mine will produce more than five million ounces of gold in its initial 14 year span. Equinox also said the project had expansion potential from underground and nearby mine deposits.
Ontario’s Premier Doug Ford said in the groundbreaking ceremony that Equinox had done a great job with indigenous communities and in bringing more employment opportunities for the community.
Equinox estimates that the project will create 800 local and 1,300 regional jobs during construction. Once in operation, the site will have 500 permanent positions.
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