Mining News: Northern Neighbors: Nunavut board OKs Hope Bay expansion

TMAC Resources Inc. June 15 reported that the Nunavut Impact Review Board has recommended to the Minister of Indigenous and Northern Affairs Canada to approve a permit amendment to expand Doris North, which is located at the north end of the company’s Hope Bay gold project in Nunavut. TMAC is currently permitted to operate the Doris North project and to dispose of 458,000 metric tons of tailings, roughly 1.5 years of currently planned production, into a permitted tailings impoundment area. The pending amendment would increase the amount of tailings permitted to be disposed to 2.5 million metric tons. During 2015, TMAC secured more than C$350 million in equity and debt financing to fund its “path to production” plan for the Hope Bay project. Scheduled to start by the end of 2016, the plan begins with mining at the Doris North deposit. By the end of the year, TMAC plans to have 110,700 metric tons of high-grade ore stockpiled that contains 55,600 ounces of gold.

-Shane Lasley