First Mining garners Canadian enviro approval for Springpole project
TSX-listed First Mining Gold Corporation has garnered environmental approval from the Canadian federal government for its Springpole gold project, in Ontario.
The $957-million Springpole project is one of Canada's largest undeveloped gold resources that will be developed as an openpit gold and silver mine, combined with an on-site mill.
The Federal Environmental Assessment decision statement follows a thorough process carried out since 2018, with input from Indigenous communities, the public, and government departments and agencies such as Environment and Climate Change Canada, Natural Resources Canada, Transport Canada and Fisheries and Oceans Canada.
First Mining is now working on advancing engineering designs and optimisations for the project towards construction readiness.
The company targets average yearly payable production of 330 000 oz of gold over the first five years, with life-of-mine production expected to average 281 000 oz/y over 9.4 years.
CEO Dan Wilton says local communities and municipalities are poised to benefit economically and socially from Springpole's development. Notably, the project will generate billions of dollars in government revenue, deliver hundreds of jobs and provide significant contracting opportunities for regional and Indigenous businesses.
Canada's Minister of Environment, Climate Change and Nature Julie Dabrusin adds that government is focused on building a strong, resilient economy while protecting the environment and advancing reconciliation with Indigenous peoples.
"The Springpole project demonstrates how major projects can move forward in a responsible way - grounded in science, Indigenous knowledge and meaningful consultation. With strong, legally binding conditions in place to protect the environment and Indigenous rights, this project can contribute to good jobs, economic growth and sustainable development for Canadians," she states.
Canada's Minister of Energy and Natural Resources, Tim Hodgson, adds that Canada has the minerals the world wants and government is acting with speed, scale and purpose to get projects from deposit to market. "The Springpole project is worth almost $1-billion in capital investment and should create fantastic economic opportunities, as well as thousands of jobs that Canadians and Ontarians need. It is this type of investment and progress that make our economy more resilient."
