Project Development

Key Milestones

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.

Recent Highlights:

  • Schedule– The Greenstone Project is 85% complete and remains on schedule to pour gold in the first half of 2024.
  • Budget – The Greenstone Project remains on track for a total spend of $1.23 billion. At June 30, 2023, $937 million (76%) of the budget had been spent.
  • Facilities completed– With construction of the following facilities completed, the operations team has assumed responsibility for the permanent effluent water treatment plant, truck shop, warehouse, sewage treatment plant, potable water treatment plant, pit and plant site fuel stations, reagent storage, and site mixed emulsion (explosives) plant. The new Ministry of Transportation patrol yard was turned over to the Ministry and dismantling of the old patrol yard is complete. The natural gas pipeline to site has been commissioned and is operational.
  • Construction progress– All major equipment is now on site. Mechanical, electrical and piping installations are both over two-thirds complete. Power plant construction is complete and commissioning will be completed in Q3 2023. The Highway 11 relocation is substantially complete and ahead of schedule, with traffic on the new highway. The remaining construction effort is focused on completion of the process plant and tailings storage facility.
  • Pre-production mining– The first two Epiroc Pit Viper 235 drill rigs and the eighth CAT 793F haul truck were commissioned during the quarter. Mine pre-production activities have been operating 24/7 since Q4 2022, with more than 10.6 million tonnes of material moved to date. The current priority for mined material continues to be supplying waste rock for the tailings storage facility and other construction activities. Mining of ore for the commissioning stockpile is expected to commence in Q4 2023.
  • Commissioning and operational readiness– The commissioning and operational readiness teams are in place and commissioning plans are well underway.

Construction during Q4 will focus on commissioning and operational readiness as the Project advances to construction completion and the first gold pour in the first half of 2024.