Back River gold project, Canada
Name of the Project
Back River gold project.
Location
Nunavut, Canada.
Project Owner/s
Sabina Gold & Silver Corp.
Project Description
The project entails the construction of the Goose mine at the Back River gold project.
The Goose mine will produce about 223 000 oz/y of gold. In the first five years, the mine will average 287 000 oz/y, with peak production of 312 000 oz in Year 3.
A total of 18.7-million tonnes of ore are expected to be milled over the project’s 15-year mine life, producing 3.35-million ounces of gold over the life-of-mine.
The next obvious focus for exploration and development at the project is the George property.
About half of the Back River project’s production is expected to come from openpits.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate, of $1.1-billion and an internal rate of return of 27.7%, with a payback 2.3 years from the start of operations.
Capital Expenditure
The Goose mine project requires initial capital of C$610-million.
Planned Start/End Date
First gold at the Goose mine is expected in the first quarter of 2025.
Latest Developments
The final documentation for $520-million in construction financing for the project has been completed, with the financing provided by Orion Mine Finance and Wheaton Precious Metals, which are set to be significant equity holders in Sabina.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Sabina Gold & Silver Corp, tel +1 604 998 4175 or email info@sabinagoldsilver.com.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
At Airshrink - CiP, we surpass customer expectations with innovative MV and LV cable accessories, including heat shrink joints, terminations,...
VISIT SHOWROOM
AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
