Newmont wins approval for Coffee gold project
Gold major Newmont has won approval from the federal government and Yukon government for its Coffee gold project, near Dawson City, providing much-needed certainty about the future of the asset, the NYSE- and TSX-listed miner reported on Thursday.
Located in the White Gold district of west-central Yukon, the Coffee mine will extract ore at a rate of up to nine-million tonnes a year and is expected to be in operation for ten years.
“Newmont is pleased that the federal and territorial governments and our First Nations partners recognise the significant benefits of the Coffee gold project and Newmont’s commitment to delivering our purpose to create value through sustainable and responsible mining,” said Newmont North America regional senior VP Mark Rodgers.
Earlier in 2022, Yukon the Environmental Socioeconomic Assessment Board (YESAB) recommended to the territorial and federal governments that the project be allowed to proceed, with the recommendation being recently accepted.
YESAB, in its role as an independent body, is tasked with the assessment responsibilities of the Yukon Environmental and Socioeconomic Assessment Act legislation and regulations.
“We are very pleased to reach a decision that will allow the Coffee gold project to move forward,” said Yukon Premier Sandy Silver.
“This is another example of the effectiveness of the Yukon’s environmental and social-economic assessment process that continues to uphold responsible development in the territory.”
During the peak of construction, the proposed project is estimated to provide nearly 700 jobs for Yukoners.
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