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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. 3
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 Since 2003, Cloutier Contracting has worked closely with a number of companies and organizations to ensure that the project that would eventually become one of North America's largest gold mines could take root and prosper in the small community of Geraldton, Ontario. The region has historically been home to many successful gold ventures from 1930-1970, producing more than 2 million ounces of gold. But as gold prices fluctuated and mining costs increased, the mines closed and site rehabilitation ensued. But soon after, new mining companies and technologies revitalized the industry allowing the new Greenstone Gold Mine to help usher in a new era of prosperity for the community. Cloutier Contracting has always had to be a swiss army knife of the construction industry due to the everchanging needs of their small northern community. And over the past few years have been able to evolve from a small-town heavy equipment operation with 20 employees into a community mainstay with over 170 employees and servicing one of the most prosperous gold mines in the country. Not only has their expertise in construction helped to make the mine a reality through their construction phase but has now grown into the role of being a key player throughout their operations phase by offering services such as tailings dam construction, crushing operations, septic services, equipment rentals, winter operations, just to mention a few. This versatility and experience in a variety of fields has uniquely positioned the company to offer a vast array of services to the mine, accommodating their every need in an often turbulent Canadian landscape. As a huge proponent of reconciliation, Cloutier Contracting has formed a partnership with Minodahmun Development, an Indigenous owned firm that is comprised of three local First Nation communities: Animbiigoo Zaagi’igan Anishinaabek, Aroland First Nation, and Ginoogaming First Nation. As a result, the partnership, called “Amik” (Ojibway for “beaver”), maximizes Indigenous training and potential employment at Greenstone Gold Mines. This ensures that local Indigenous business owners benefit from the resources of the region while also allowing local Indigenous communities to focus on their social and cultural priorities. Not only has Cloutier Contracting established themselves as a vital part of the Greenstone Gold Mine’s legacy, but they have also become a champion for the advancement of reconciliation and are looking forward to many more ventures within the mining industry near and far. 6
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 David Newhook, Director of Operations 7
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. 8
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 nearmine 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. 9
As seen in BusinessEliteCanada.com www.greenstonegoldmines.com and www.equinoxgold.com
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