Since the 2021 43-101 Technical Report, significant progress has been made to de-risk and advance the Greenstone Project.
The groundbreaking ceremony for the Greenstone Project was held on October 27, 2021, marking the culmination of several years of engineering, permitting, and de-risking work to advance the Project to full-scale Construction.
- The Federal EA and Provincial EA were approved in December 2018 and March 2019, respectively, and the Closure Plan was filed in January 2020. All permits required to initiate major Construction activities have been received and the Notice to Construct was filed in February 2021.
- Three Agreements are in place with Indigenous communities and implementation activities are well underway on consultation, business opportunities and training.
- The updated 43-101 Technical Report was filed in January 2021.
- On schedule – The Greenstone Project is over 66% complete and on schedule to pour gold in the first half of 2024.
- On budget – The Greenstone Project remains on budget. At December 31, 2022, 71% of total capital costs had been contracted and $680 million (55%) of the $1.23 billion construction budget had been spent (100% basis). Inflationary pressures have been mitigated through offsetting savings opportunities or absorbed through the$177 million contingency included in the construction budget.
- Facilities completed – The construction team has completed the Ministry of Transportation (MTO) Patrol Yard, the Goldfield Creek diversion and the permanent effluent water treatment plant. The first four bays of the truck shop are complete and in use. The 14-km natural gas pipeline is complete and ready for commissioning in Q2 2023.
- Equipment delivery continues to support the construction schedule, with key equipment on site or enroute.
- Pre-production mining commenced ahead of schedule – The first four mining haul trucks and the first shovel were commissioned during Q3 2022 and mine pre-production activities got underway in September, ahead of schedule, with more than 2.5 million tonnes of material (ore, waste and overburden) mined to year-end 2022.
Construction during Q1 2023 will focus on completing enclosure of the HPGR and process plant east end buildings, receiving the majority of the remaining equipment, advancing mechanical, piping and electrical installations in the process plant and power plant buildings, and progressing the crushed ore storage and reclaim facilities. Four additional CAT 793F haul trucks, another Komatsu PC5500 shovel and another Komatsu D475A-8 bulldozer will be commissioned during Q1 2023, and the sewage treatment plant, potable water treatment plant and pit fuel station for mobile equipment will be commissioned and released to operations.