HomeMarket NewsMiningGreenstone mine build reaches 90%, Equinox prepares for first gold pour in...

Greenstone mine build reaches 90%, Equinox prepares for first gold pour in 2024

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The construction of the Greenstone gold mine has reached a major milestone, with completion now at 90%. Equinox, the company behind the project, is gearing up for its first gold pour in 2024. This development is of significant interest to investors and traders looking for insights into the financial markets.

Progress Update

Pre-commissioning activities have already commenced in part of the crushing circuit, a key component of the mine. The hot commissioning phase is scheduled to begin early in 2024.

An important achievement in the recent quarter was the successful commissioning of the natural-gas fired generators. The thermal energy recovered from these engines, along with a glycol distribution loop, will provide heat to the process buildings and the truck shop, ensuring efficient and sustainable operations.

Meanwhile, work is ongoing on the tailings management facilities, reflecting Equinox’s commitment to environmentally responsible mining practices.

In terms of mining activities, third-quarter pre-production efforts have been ramping up and are currently operating on a 24/7 basis since the fourth quarter of 2022. As of now, a significant amount of material, totaling 12.2 million tonnes, has been moved. By the end of this year, the mine will have a fleet consisting of 14 Cat 793F/793 trucks, two Komatsu PC5500 shovels, one Komatsu LT-1850 loader, three Epiroc PV235 drills, four Komatsu 375 dozers, and 3 Cat 16M graders.

The effluent water treatment plant is also operational, ensuring the responsible management of water resources. In the third quarter alone, it discharged over 342,000 m3 of clean water, with a total of 1.4 million m3 discharged this year.

Potential for Growth

The Greenstone gold mine will initially commence production as an open pit and mill, with plans to transition into underground mining in the future. With proven and probable reserves amounting to 135.3 million tonnes, grading 1.27 g/t gold and containing 5.5 million ounces of gold, the potential for significant returns is evident. This information is particularly valuable to investors and traders seeking market analysis and commentary.

Related FAQ

  • What is the current status of the Greenstone mine build?
  • When is Equinox expected to achieve its first gold pour?
  • What does the fleet of mining equipment at the mine consist of?
  • What are the key features of the effluent water treatment plant?
  • What are the future plans for the Greenstone gold mine?

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