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July 23, 2020

Pure Gold Mining’s Red Lake mine receives environmental approval

The Ontario Ministry of the Environment, Conservation and Parks (MECP) has approved and issued an Amended Environmental Compliance Approval (ECA) for air and noise emissions at Canadian firm Pure Gold Mining’s PureGold mine.

The Ontario Ministry of the Environment, Conservation and Parks (MECP) has approved and issued an amended environmental compliance approval (ECA) for air and noise emissions at Canadian firm Pure Gold Mining’s PureGold mine.

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As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
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The mine is located in Red Lake, Ontario, Canada.

According to the Canadian firm, the amended ECA sets out operating conditions of the mine’s mining and milling operations relating to air and noise emissions, as well as other support processes and activities, at a production limit of up to 1,089tpd of processed gold ore.

Furthermore, the company said it is awaiting an amended Industrial Effluent permit.

PureGold president and CEO Darin Labrenz said: “Since first acquiring the project, we have worked very closely with the First Nations, local communities and regulators to materially advance the project and to transform a brownfields site into a sustainable modern mine.

“To date, our work has clearly established a robust, scalable mining operation, while concurrently improving the surrounding environment through the progressive removal and reclamation of legacy works.

“In production, our PureGold Mine is expected to generate over $470m in direct salaries over the life of the phase 1 mine and will provide significant economic benefits to the local communities and surrounding region through both direct and indirect taxation and expenditures.”

In October last year, Pure Gold Mining intersected gold mineralisation at its Madsen Mine project in Red Lake.

Meanwhile, in a separate development, Cardinal Resources has received a revised takeover proposal for an off-market takeover offer from Chinese gold mining firm Shandong Gold Mining.

Under the revised proposal, Shandong Gold proposed to acquire all of the shares in Cardinal, which it does not currently own, priced at A$0.70 ($0.49) a share.

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Dig deeper with our mining equipment forecasts

As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders, graders and dozers) is forecast to rise from 141,470 in 2020 to 167,367 by 2025. This will be a CAGR of 3.4% from 2020 to 2025. The largest contributor to this growth is expected to be trucks, particularly smaller-sized trucks with shorter lifespans, used extensively in parts of Asia Pacific. Underground mining equipment is similarly expected to see a CAGR of 2.3% in this same time frame, with the number of mining trucks and loaders/LHDs in active underground mines expected to rise to 19,853 by 2025. GlobalData’s extensive mine-site research and equipment models have been used to build a complete view of mobile mining equipment populations globally for trucks, loaders, graders, dozers, excavators and shovels. This report includes informative breakdowns by each major region and key mining country, and also by major commodity. Read GlobalData’s Global Surface and Underground Mining Equipment: Populations & Forecast to 2025 for a complete view of the market, allowing you to best position yourself for the future.
by GlobalData
Enter your details here to receive your free Report.

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