Equinox Gold said its Greenstone mine in Ontario, Canada, has reached commercial production based on the operating progress achieved through October. At full production, the mine will be one of Canada’s largest and highest-grade open-pit gold mines.
“This milestone marks the culmination of three years of construction and commissioning, accomplished during the challenges of a global pandemic, supply chain disruptions, and inflationary pressures,” said Equinox Gold President and CEO Greg Smith. “I extend my thanks and congratulations to the Greenstone team for their dedication and perseverance in achieving this milestone.”
During the third quarter, Greenstone processed an average of 14,300 tonnes per day, representing 53% of design throughput, producing 42,400 ounces of gold at an average recovery rate of 79% and a cash cost of US$930 per oz. The average throughput during the quarter includes three multi-day shutdowns to address issues identified during the ramp-up process.
Throughput steadily increased through October and, as of November 5, the trailing 20-day throughput averaged over 20,400 t/d, representing 76% of design. The crushing and grinding circuits have demonstrated operation at the full production rate of 27,000 t/d. Gold recovery has reached daily highs over 90% and averaged 78% through October.
At full production, Greenstone will produce on average 390,000 oz. of gold per year for the first five years and 330,000 oz. of gold annually for an initial 15-year mine life.
Source: Equinox Gold