Equinox hits commissioning milestone at one of the largest gold mines in Canada
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(Kitco News) - Equinox Gold (TSX: EQX) (NYSE: EQX) reported today that its Greenstone gold project in Ontario is 96% complete, with pre-commissioning activities ongoing in most of the main process plant areas and wet commissioning underway in select areas.
“Pre-commissioning activities are ramping up in coordination with final construction activities, with systems checks underway at the crusher, ball mills, ore storage dome and high-pressure grinding rolls areas. Wet commissioning has commenced at the leach tanks and in the crusher area,” the company said in a media release.
Importantly, the company noted that the Greenstone project remains on track for a total spend of $1,225 million, adding that at September 30, 2023, $1,087 million (89%) of the budget had been spent (100% basis).
According to Equinox, Greenstone will be one of the largest gold mines in Canada, with average annual gold production of more than 400,000 ounces over the first five years and more than five million ounces of gold produced over its initial 14-year mine life.
The Greenstone project is being developed as a 60/40 partnership, respectively, by Equinox Gold and Orion Mine Finance Group.
President and CEO Greg Smith commented, "With the Greenstone project 96% complete and the power plant fully operational, the priority is now on completion and commissioning of the process plant, commissioning of the TSF and ramp up of mining and operations.
“The project continues to advance on budget and on schedule. We look forward to pouring gold in the first half of 2024 and then achieving commercial production."
Equinox Gold is a Canadian mining company with seven operating gold mines, construction underway at a new project, and a plan to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects.
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