PRECIOUS METALS

Equinox starts mining at Santa Luz

On track for first pour in 2022

 The first truck loaded this month at Equinox Gold’s Santa Luz in Brazil

The first truck loaded this month at Equinox Gold’s Santa Luz in Brazil

Equinox has three other mines in Brazil, two in the US and two in Mexico, where its Los Filos mine was suspended last week due to another blockade

Santa Luz is one of Equinox's growth and development projects, along with Greenstone in Ontario and the Los Filos and Castle Mountain expansions.

The Ross Beaty-chaired company expects the brownfields Santa Luz mine to produce 110,000 ounces of gold annually for the first five years.

Construction was on schedule and on budget, with about US$31 million of the $103 million construction budget spent and $70 million committed at the end of June, Equinox said yesterday.

Plant construction and refurbishment was 46% complete and the overall project was 41% complete.

It said current mining activities included removing waste from two locations and its contractor was also relocating an existing stockpile grading 0.9g/t which would be used for commissioning in the fourth quarter.

Equinox shares (TSX: EQX) closed down 2.2% yesterday to a new one-year low of C$8.53.

At that closing price, it's capitalised at $2.5 billion (US$2 billion).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.