https://www.miningweekly.com
Gold|Mining|PROJECT|Projects|Underground|Environmental|Operations
Gold|Mining|PROJECT|Projects|Underground|Environmental|Operations
gold|mining|project|projects|underground|environmental|operations

First Mining’s says 200 000 oz/y Quebec mine to cost C$700m to build

8th September 2023

By: Creamer Media Reporter

     

Font size: - +

Gold development company First Mining has announced the results of a preliminary economic assessment (PEA) for its Duparquet mine, in Quebec, putting an initial capital cost of C$706-million on the development.

Sustaining and underground development costs are estimated at a further C$738-million, for total capital of C$1.44-billion.

The PEA calculated an after-tax net present value, using a 5% discount, of C$588-million and an internal rate of return of 18%.

Over an 11-year mine life, Duparquet, which is located north of its namesake town near Rouyn-Noranda, will produce 2.5-million ounces, at an all-in sustaining cost of $976/oz.

"The +200 000 oz per year production profile, attractive capital and operating cost profile and strategic location of the deposit in the heart of the Abitibi gold belt all contribute to the recognition of Duparquet as one of the most meaningful development projects in Canada,” said CEO Dan Wilton.

Duparquet currently hosts 2.7-million ounces of gold in the inferred mineral resource category.

The PEA evaluates recovery of gold from a 15 000 t/d openpit and underground mining operation, with a process plant producing concentrate for sale.

Wilton added that the Duparquet project represented a unique opportunity to address the environmental legacy issues from the historic mining operations.

Besides Duparquet, First Mining owns the Springpole project, in Ontario.

 

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
SSG Consulting Project Management
SSG Consulting Project Management

SSG Consulting is your Global Specialist Capital Project Management Partner for Advisory, Project Controls, Resourcing and Execution capability....

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (01/12/2023)
1st December 2023
Photo of Martin Creamer
Jupiter Mines, Copper 360 and DRDGold make headlines
1st December 2023
Magazine round up | 01 December 2023
Magazine round up | 01 December 2023
1st December 2023

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.157 0.193s - 110pq - 2rq
Subscribe Now