The Greenstone Gold Mine, located in Ontario, Canada, has been one of the most significant gold development projects in the country over the last few years and will soon be one of the country’s largest open-pit gold mines, with production expected to average 400,000 ounces of gold per year for the first five years. Owned and operated by Equinox Gold, the mine represents a substantial investment in the Canadian mining sector and promises to become a cornerstone of Equinox Gold’s operations.
The Greenstone Gold Mine is strategically located in the Geraldton-Beardmore Greenstone Belt, a region known for its rich mineral deposits and excellent access to infrastructure. Gold was first discovered in the area between 1916 and 1918. The area saw several significant discoveries in the 1930s, including the Little Long Lac, MacLeod-Cockshutt, Hard Rock, and Mosher mines. From 1938 to 1970, these mines collectively produced over two million ounces of gold.
Premier Gold acquired the property in 2008, and in March 2014, a preliminary economic analysis (PEA) was prepared for the project. In 2015, Premier Gold Mines and Centerra Gold formed a 50/50 partnership to develop the property and completed a feasibility study in 2020, outlining the development of an open-pit gold mine with an initial 14.5-year mine life.
Equinox Gold’s Acquisition
Equinox Gold entered the scene in 2021, forming a 60/40 partnership with Orion Mine Finance for the joint ownership and development of the Greenstone Project. In May 2024, Equinox Gold acquired Orion’s interest, consolidating 100 per cent ownership of the mine.
Since the groundbreaking ceremony in October 2021, the Greenstone Gold Mine has undergone significant development. Key milestones include the construction of major infrastructure such as the crusher, a 27,000 tonnes-per-day processing plant and a natural gas plant, the construction of essential facilities like the truck shop, warehouse, and tailings storage facility, and also off-site work such as the realignment of Highway 11 and relocation of the local police force building. The mine benefits from proximity to the Trans-Canada Highway and the TC Energy’s natural gas pipeline, providing essential logistical and operational advantages.
After 2.5-years of construction, first gold was poured on schedule in May 2024, a milestone celebrated by the entire team and local community. “For me and for everybody here, we’ve been focused on building the mine and now we want to get it ramped up to capacity and focus on executing well on performance. The first gold pour was a significant celebratory event,” says David Newhook, Director of Operations. This event marked the culmination of years of hard work and dedication and symbolized the project’s transition from development to production.
A significant aspect of the Greenstone Gold Mine’s development is its commitment to community engagement and environmental stewardship. “The support from local First Nations has been integral to our success,” says Newhook. Since 2020, Greenstone Gold Mines has implemented three long-term relationship agreements with Indigenous communities, demonstrating its dedication to fostering positive and sustainable relationships with local stakeholders.
The company has also prioritized environmental responsibility, ensuring that all operational and developmental activities adhere to stringent environmental standards. This includes the construction of a permanent effluent water treatment plant and ongoing operational readiness activities aimed at minimizing the mine’s environmental impact.
Strategic Importance
Equinox Gold’s investment in the Greenstone Gold Mine not only boosts local employment and economic activity, but also enhances Canada’s position as a leading gold producer on the global stage.
Looking ahead, “Our immediate goal is achieving full production capacity,” says Newhook. The company plans to host a mine opening event at the end of August 2024. Additionally, there are plans to review expansion and mine-life extension opportunities from both underground and near-mine deposits, ensuring that Greenstone remains a key player in the gold mining industry for years to come.
For more information about the Greenstone Gold Mine, please visit www.greenstonegoldmines.com and www.equinoxgold.com.
