The proposed lead-zinc mine at Pine Point is moving along as planned, according to the company behind the new project. Town council received an update during its council meeting on Oct. 30 from Andrew Williams, the environmental manager for Pine Point Mining Limited (PPML).
PPML is a joint venture between Osisko Metals and Appian Natural Resources Fund. Appian announced it had purchased a 60 per cent stake in the project for $100 million over four years this past February. Williams’ presentation to council indicated that the mine’s life is expected to be 12 years with construction scheduled to begin in late spring of 2028. Operations are expected to begin one year later and is set to last until 2040.
The company is also committing to closure monitoring for at least 10 years following the mine’s shutdown. But nothing will be able to happen until a developers’ assessment report is submitted to the Mackenzie Valley Environmental Impact Review Board, which Williams said should be ready by either March or April 2025.
Osisko Metals submitted an environmental assessment package to the review board in February 2021. Williams said the mine is expected to have 47 new open pits and between one to five underground mines; the underground mines are on the west side of the Buffalo River.
For the rest of this article: https://www.nnsl.com/business/pine-point-mining-ltd-says-new-lead-zinc-mine-on-course-for-2029-opening/