Northern Ont. gold mine expansion to double lifespan, nearly triple mineral reserves
Alamos Gold has broken ground on the expansion of one of its two northern Ontario mines Monday it says will more than double the life of the mine and nearly triple its mineral reserves and resources.
Island Gold Mine's third expansion in Dubreuilville will increase production and lower costs, officials said in a news release.
"When we first acquired the Island Gold Mine we were aware of its potential. It had 1.8 million ounces of mineral reserves and resources and through exploration investment we have increased this high-grade deposit to 5.1 million ounces of mineral reserves and resources," John McCluskey, president and CEO of Alamos Gold, said in a news release.
"This mine will be an economic engine for this region for years to come, and positively impact the closest town of Dubreuilville and surrounding communities."
The mining company said the construction phase of the expansion will see the number of jobs double to 1,200 with the completion of the shaft expected to be completed by 2025.
"The Island Gold expansion will help to strengthen the Algoma economy and is the latest in a series of recent success stories in Ontario's mining sector—successes that our government is proud to support. The project will bring good-paying jobs and prosperity throughout the region including northern and Indigenous communities," Ontario Minister of Northern Development, Mines, Natural Resources and Forestry Greg Rickford said.
Alamos will benefit from the recently announced electricity price reduction the Ontario government is giving the northern industrial sector.
"Our government has reduced electricity prices for large industrial customers like Alamos Gold by 15 per cent through our Comprehensive Electricity Plan," said Ontario Energy Minister Todd Smith, who is the MPP for Bay of Quinte.
A study on the Phase 3 expansion published in July 2020 outlined a 16-year mine life and will see production increase from 1,200 tonnes per day (tpd) to 2,000 tpd.
"This is expected to drive production approximately 70 per cent higher to average 236,000 ounces of gold per year at significantly lower costs," Alamos Gold said.
"The addition of a shaft connected to low-carbon intensity grid power in Ontario will support higher mining rates with a smaller mobile fleet of haul trucks resulting in significantly lower diesel consumption. This is expected to drive a 35 per cent reduction in greenhouse gas emissions over the Phase 3 mine life."
Alamos Gold owns another northern Ontario mine, Young-Davidson near Matachewan, and the Mulatos Mine in Sonora State, Mexico.
CTVNews.ca Top Stories
B.C. woman sentenced for stealing $14K in funds raised for schoolkids
A B.C. woman who stole more than $14,000 in volunteer-raised funds that were supposed to be spent on school supplies and programs – including hot meals for vulnerable kids – won't spend any time in jail.
Trump expected to name Marco Rubio secretary of state, reports say
Donald Trump selected U.S. Senator Marco Rubio to be his secretary of state, sources said on Monday, putting Rubio on track to be the first Latino to serve as America's top diplomat.
Northern Ontario teen recovering in hospital after being attacked; ex-boyfriend charged with attempted murder
Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.
23andMe cuts 40 per cent of its workforce, discontinues all therapy programs
Genetic testing firm 23andMe said on Monday it is reducing about 40 per cent, or 200 employees, from its workforce and discontinuing all its therapies.
'Your body, my choice': Attacks on women surge on social media following U.S. election
Sexist and abusive attacks on women, like 'your body, my choice' and 'get back to the kitchen,' have surged across social media since Trump’s reelection.
Dr. Ronald Weiss, Ottawa's 'Wayne Gretzky' of vasectomies, dies
Dr. Ronald Weiss, who performed nearly 60,000 vasectomies on Ottawa men, establishing him as the "Wayne Gretzky" of the procedure, has died.
Megan Fox is expecting a baby with Machine Gun Kelly
Megan Fox and Machine Gun Kelly are expecting to grow their family. Fox announced her pregnancy in a social media post Monday.
Montreal man facing first-degree murder in woman's death; accused was on bail after allegedly threatening her
A 36-year-old Montreal man who was out on bail after allegedly uttering death threats against his partner is now accused of murdering her on the South Shore.
Kitchener, Ont. teen facing 29 charges after serious threats made against schools, businesses and people
A 15-year-old boy from Kitchener, Ont. is facing a long list of criminal charges as the Waterloo Regional Police Service wraps up a lengthy swatting investigation.