St Barbara reaches FID on Touquoy restart, expects processing by year-end
ASX-listed St Barbara has announced a final investment decision (FID) to proceed with the Touquoy Restart gold project, in Novia Scotia, after garnering board approval on April 24.
The FID follows the company receiving approval on amended permit conditions from the Novia Scotia Department of Environment and Climate Change earlier this month, after various regulatory denials over St Barbara's new plans for the Touquoy openpit since 2023.
St Barbara's subsidiaries have already signed two major contracts with rural Nova Scotian companies called Alva Construction and MacGregor's Industrial to provide support services for the reopening and processing period of the Touquoy operation.
St Barbara MD and CEO Andrew Strelein comments the processing of stockpiled ore at Touquoy is a significant step forward for St Barbara in Nova Scotia. "It demonstrates the province is open to investment in resources projects, will provide for nearly 200 new jobs within the province and add to the province’s growing GDP all while responsibly managing our shared environment.”
Nova Scotia Minister of Natural Resources and Renewables Kim Masland lauds the company for employing local companies, especially in rural areas.
St Barbara anticipates Touquoy will be in a position to restart ore processing by the end of the year using the existing Touquoy processing plant, which has a two-million tonnes a year capacity.
St Barbara wants to use the Touquoy facilities for processing gold and its openpit for storing tailings from its Fifteen Mile Stream operation.
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