Equinox Gold (TSX: EQX) has been selected for the US Government’s FAST-41 program for their Castle Mountain Mine Phase Two Project, which is based in California.
The program will see the permitting process advanced at a quicker pace than has been historically normal within the US, with Equinox currently forecasting that the process should be completed by no later than December 2026. The program works by streamlining environmental reviews, improving coordination among different federal agencies, and increasing transparency to reduce timelines.
Castle Mountain is currently in the process of receiving approval for increased land disturbance within already approved mine boundaries and more water use, which requires modification to the mine and reclamation plan alongside an updated environmental impact statement. The gold mine previously operated from 2020 through to the third quarter of 2024.
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“Castle Mountain is a high-quality growth opportunity for Equinox Gold in a tier-one jurisdiction. Based on the March 2021 Feasibility Study, the project is expected to produce approximately 200,000 ounces of gold annually over a 14-year mine life, totaling 3.2 million ounces. With FAST-41 permitting status in place we’ve initiated study updates and project optimization to align with the permitting timeline and position the project for a timely construction decision,” commented Darren Hall, CEO of Equinox Gold.
Equinox Gold last traded at $8.89 on the TSX.
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