The IAMGOLD Mine project has gold reserves of more than seven million ounces
Prime Minister Trudeau and members of the Ontario government was on hand to break ground for the IAMGOLD’s ribbon cutting of the new Côté Gold Mine, a project that will drive long-term economic growth and support a strong recovery in Northern Ontario. When fully operational, the mine is expected to employ 450 people, generate more than $5 billion in wages, and contribute $10 billion to Ontario’s gross domestic product over its 18-year life span.
“The opening of this mine is a prime example of how the Ontario government can help businesses grow and create jobs by cutting red tape and removing regulatory roadblocks, without cost to taxpayers,” said Premier Ford. “I want to thank IAMGOLD for making this significant investment in Northern Ontario, which will create good-paying jobs for the local community and support the long-term prosperity of both the region and Ontario as a whole.”
To support the project, the Ministry of Energy, Northern Development and Mines, the Ministry of Natural Resources and Forestry, and the Ministry of Environment, Conservation and Parks worked together through the One-Window Multi-Ministry Team to help coordinate on the environmental assessment process, review the closure plan for the mine, and move the permitting process forward.
The government continues to work collaboratively with IAMGOLD, First Nation and Métis communities, the federal government, interest groups and forest industry to reduce delays and remove regulatory barriers for permitting and approvals to help support construction of the project.
“Mining is a key driver of our provincial economy and our government is proud to support Ontario’s world-class mining industry,” said Greg Rickford, Minister of Energy, Northern Development and Mines; Minister of Indigenous Affairs. “The opening of Côté Gold Mine will propel economic recovery forward in the region, once again signalling to the world that Northern Ontario is open for business, jobs and investment.”
The Côté Gold Mine project has gold reserves of more than seven million ounces. During the construction phase alone, the project will create more than 1,000 jobs and generate business for hundreds of local mining supply and services companies. Once construction is complete, the mine is expected to reach full production by 2023.
“Northern Ontario is a resource-rich area with considerable economic development potential, and our goal is to encourage economic growth and create good-paying jobs in these communities,” said John Yakabuski, Minister of Natural Resources and Forestry. “Our government supports development that is beneficial to our communities while maintaining our commitment to conservation.”