Capital cost per ounce of Island Gold mine will drop after expansion
John McCluskey, CEO of Alamos Gold, joins BNN Bloomberg to discuss the US$770M expansion of their Island Gold mine, which is set to be completed in 2025, and produce about 287,000 ounces per year at an all-in sustaining cost of US$576 per ounce. McCluskey says the core from this site is “spectacular” and that it will become Canada’s lowest-cost, and among the world’s most profitable, gold mines.
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