Gold miner Alamos Gold is on a path of strong production growth in the next five years, driven by expansions at existing mines and additional growth potential from its Lynn Lake project, in Manitoba, Canada.
The company, which has two operating mines in Canada and one in Mexico, expects to increase its production to about 600 000 oz/y from existing mines in 2025, driven by low-cost growth at Island Gold, in Ontario, with the completion of the Phase 3 expansion project.
If the Lynn Lake project comes into play, production will increase to about 750 000 oz/y in 2025 – a substantial increase from the company’s current production. Alamos expects to wrap up the permitting for the Lynne Lake project, which involves the redevelopment of two historic gold mines, in 2022.
The miner will produce between 405 000 oz and 435 000 oz in 2020, increasing to between 470 000 oz and 510 000 oz in 2021, driven by the ramp-up of mining rates at Young-Davidson, in Ontario.
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