- Write by:
-
Friday, November 6, 2020 - 6:23:59 PM
-
282 Visit
-
Print
Mining News Pro - Artemis Gold’s Blackwater gold project would contribute more than C$13.2 billion ($10bn) to British Columbia’s economy over its 23-year mine life, according to an economic impact study released by the company.
The study, conducted by KPMG, focuses on job creation, fiscal revenues and overall economic wealth creation for the regions within and surrounding the project, the province and for Canada.
The statistics produced in the study are based on the base case scenario of the three-phased development of the Blackwater project as reported in the company’s pre-feasibility study.
The base case assumes:
Initial development capital of C$592 million to build a 5.5 million tonne per year mine (years 1-5)
C$426 million in capital costs to expand to 12 million tonnes per year (years 6-10)
C$398 million in capital costs to expand to 20 million tonnes per year (years 11-23)
The selected British Columbia regions within the study included the Bulkley-Nechako, Fraser-Fort George and Cariboo. With a total capital investment of C$1.5 billion (initial and expansion capital), Blackwater would be one of the largest capital investments for the region in the last ten years, Artemis said.
“The results of the economic impact study confirms what the development of the Blackwater gold project will deliver as a new economic engine for central British Columbia and Canada,” chairman and CEO Steven Dean said in a press release.
To move the project forward, the company will now focus on obtaining the final permit required to begin construction, planning a diamond drilling program to test resource extensions, and continuing work on a definitive feasibility study.
Shares of Artemis Gold rose 3% by noon ET Thursday. The Vancouver-based miner has a market capitalization of C$559.5 million.
Short Link:
https://www.miningnews.ir/En/News/608013
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s ...
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has ...
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
No comments have been posted yet ...