Greenstone Gold Mine
Producing gold in Ontario, Canada
Greenstone is an open-pit gold mine with underground potential.
Snapshot
Ownership
100%
Location
Ontario, Canada
Production estimate1
~400,000 oz/year
Cost estimate2
~$890/oz AISC (2024 guidance)
Reserves
5,539 Koz @ 1.27 g/t gold
M&I Resources3
6,868 Koz @ 1.51 g/t gold
Mining and processing
Open-pit / CIL plant
First Gold Pour
May 22, 2024
1. Based on production estimates in the 2020 feasibility study. See Cautionary Notes.
2. Mid-point of 2024 guidance, which reflects the expected costs of gold production after commercial production is achieved. See Cautionary Notes.
3. M&I Mineral Resources are inclusive of Mineral Reserves. See Operations / Reserves & Resources and Cautionary Notes.
Site Tour Presentation
Overview
Greenstone is a multi-million-ounce gold project located in the top-tier mining jurisdiction of Ontario, Canada, approximately 275 km northeast of Thunder Bay in Geraldton, Ontario. With 400,000 ounces of gold to be produced annually for the first five years, Greenstone will be a cornerstone asset in Equinox Gold’s portfolio as the Company’s largest, lowest-cost gold mine.
On October 27, 2021, Equinox Gold announced groundbreaking for full-scale construction of the Greenstone Mine, with first gold pour targeted for the first half of 2024. Construction was advanced in a 60/40 joint venture between Equinox Gold (60%) and Orion Mine Finance (40%), and was effectively complete at the end of 2023. Commissioning began in January 2024. On May 13, 2024, Equinox Gold acquired Orion’s 40% interest to consolidate 100% ownership of the mine and on May 22, 2024 the Greenstone Mine poured first gold, on schedule, with commercial production targeted for Q3 2024.
The December 2020 feasibility study for Greenstone outlined the design of an open-pit mine that will produce more than 5 million ounces of gold over an initial 14-year mine life, with life-of-mine production expected to average more than 360,000 ounces of gold per year. The Greenstone team has constructed a 27,000 tonnes-per-day leach/carbon-in-pulp processing facility with recoveries expected to average 91%. An owner-mined open-pit operation is planned with a life-of-mine strip ratio of 5.1:1. Cash costs are expected to be in the lowest industry quartile.
Indigenous Partnerships
Greenstone is located on the traditional territories of four First Nations – the Animbiigoo Zaagi’igan Anishinaabek (AZA), the Aroland First Nation (AFN), the Ginoogaming First Nation (GFN) and the Long Lake #58 First Nation (LL58) – and is home to the citizens of the Métis Nation of Ontario (MNO).
Greenstone’s Indigenous partners have been involved with the project since the outset. Long-term relationship agreements are in place with a combined group of three First Nations (AZA, AFN and GFN), with LL58 and with MNO. These agreements include a range of commitments and shared responsibilities associated with environmental management, the use of traditional knowledge and heritage resources, employment and training, business and contracting opportunities, and financial participation.
The groundbreaking ceremony included remarks from the project’s five Indigenous partners and the Mayor of the Municipality of Greenstone. Highlights from the ceremony can be viewed in the video below.
Committees have been formed with representation from Greenstone and our Indigenous partners dedicated to ensuring compliance with the agreements as the project moves through the construction phase and prepares for operations. Greenstone’s Indigenous partners are also involved in procurement and contracting through various joint venture partnership arrangements, and each Indigenous community has an environmental monitor representative as part of the Greenstone environmental team to undertake site monitoring and sampling activities. The Greenstone project team meets regularly with the Indigenous communities to discuss employment, training and procurement opportunities through the Implementation Committees.
Growth projects
Equinox Gold is advancing expansion projects at three of its operating mines.
Learn More