Equinox Gold Achieved Commercial Production at Greenstone Mine

SEATTLE (Scrap Monster): The Greenstone Mine in Ontario, Canada, has achieved commercial production, according to Equinox Gold.

The Greenstone Mine processed 14,300 tonnes per day (tpd) on average during the third quarter of this year. Producing 42,400 ounces of gold at an average recovery rate of 79% and a cash cost of US$930 per ounce, this amounts to 53% of design throughput. Due to several problems found during the ramp-up process, the mine had recorded three multi-day shutdowns.

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According to a news release from the company, throughput increased steadily through October. The trailing 20-day throughput, which accounted for 76% of the design, averaged about 20,400 tpd as of November 5, 2024. Daily highs of over 90% were achieved by the gold recoveries, which averaged 78% through October.

The Greenstone Mine will rank among the biggest and best open-pit gold mines in Canada when it is fully operational. It is anticipated to yield an average of 390,000 ounces of gold annually for the first five years and 330,000 ounces annually throughout the estimated 15-year initial mine life.

Greg Smith, President & CEO of Equinox Gold, stated in his remarks that the milestone is the culmination of three years of construction and commissioning.