Detour Gold is starting to build the Detour Lake gold project after clearing several regulatory hurdles. The company, which has its headquarters in Toronto, will be investing more than C$1.1 billion to bring the property into production by the first quarter of 2013. Recently, Detour Gold received notice that its Closure Plan for the mine has been approved by the Ontario Ministry of Northern Development Mines and Forestry. Also, it received the Statement of Completion of the Class Environmental Assessment (Category C) for the Disposition of Rights to Crown Resources from Ontario’s Ministry of Natural Resources.
As well, the Ontario Ministry of Environment approved the mine’s Provincial Class EA for a Temporary Power Supply. The EA for the Permanent Power Supply has been submitted to the Ministry of Environment and is in its final review stage. Detour Gold is continuing the permitting process with a Comprehensive Report for the federal environmental assessment.
“We have crossed a significant milestone in the development of the Detour Gold project with the approval of these provincial EAs and Closure Plan,” said Gerald Panneton, President and Chief Executive Officer of Detour Gold. “We are now in a position to commence construction of the mine, which is an important project for the economy of Northern Ontario, providing significant employment for local and surrounding communities.”
Current feasibility studies indicate the property contains 11.4 Moz of gold. The plans call for a 16-year mine life with annual gold production of about 650,000 oz. Detour Gold is engaged a major exploration drill program on the property and significant gold mineralisation has been found west of the planned pit.
Detour Gold is working on finalising agreements with local Aboriginal groups and hopes to have them ratified by year end. The company has signed an Agreement in Principle concerning finalising an Impact Benefit Agreement with the Wahgoshig First Nation.
“The AIP falls in line with the vision and needs of both our community and Detour Gold,” said Chief Babin of the Wahgoshig First Nation. “Since we acquired the Detour Lake project, we have been committed to working with Aboriginal communities,” said Panneton. “The development of the Detour Lake mine will provide positive economic and employment benefits to all the local communities in the region.”
Detour Gold is a Canadian gold exploration and development company with the primary focus of advancing the flagship Detour Lake gold project located in Northeastern Ontario towards production. The mine site is located at the end of a paved road 151 km east and north of Cochrane, Ontario. The company has an office in Cochrane, which serves as the administrative and finance centre mining operations. It is also used as a training centre. Detour gold plans on building a new facility in this city in the future.