Monday, October 6, 2025

Latest

Kinross Gold’s Great Bear Project Undergoes Federal Impact Assessment

The Impact Assessment Agency of Canada (IAAC) has initiated a federal impact assessment for Kinross Gold’s (TSX: K) Great Bear Project, a step in the scrutiny process for one of Red Lake’s next generation gold mines.

Following a notification in March, IAAC has deemed a federal impact assessment necessary after reviewing the detailed project description and considering feedback from Indigenous communities, federal authorities, provincial ministries, and the public.

Kinross Gold acquired the promising gold project in February 2022 and plans to construct an open-pit mine approximately 23 kilometers southeast of Red Lake, near Highway 105. The proposed project outlines the development of three pits over an anticipated 20-year operational span, with the capacity to extract up to 60,000 tonnes of ore daily. Additionally, an on-site mill is projected to process up to 15,000 tonnes of ore daily.

Initial estimates suggest a resource base of 2.7 million ounces of indicated gold and 2.3 million ounces in the inferred category, with ongoing exploration efforts aimed at expanding this resource.

In tandem with project development, Kinross is conducting its environmental baseline study of the site. The company tentatively aims for gold production to commence in 2029.

Public feedback compiled by IAAC last fall revealed varying degrees of concern regarding the project. While some expressed outright opposition, others sought further details on Kinross’ mitigation strategies to protect wildlife and the aquatic environment.

Of particular concern were potential impacts on provincially endangered species such as the Little Brown Myotis and Tricolored bat, as well as the wolverine population. Air quality, alongside potential adverse effects on the traditional activities of local Indigenous communities, including hunting, gathering, and trapping, were also cited.

Great Bear’s location in northwestern Ontario has seen opposition from some communities, particularly within the Land Defence Alliance, regarding the pace of claim-staking, exploration, and mine development. Additionally, Cat Lake First Nation is embroiled in a legal dispute with First Mining Gold over consultation matters concerning a mine project access road.

IAAC’s jurisdiction over fish and fish habitat, migratory birds, and Indigenous peoples allows it to address these concerns, prompting the decision for an impact assessment.

Currently, IAAC is 60 days into the 180-day assessment process, culminating in a final decision and compliance orders to be issued to Kinross. The company is expected to provide a response outlining plans to address identified issues.

Kinross Gold last traded at $8.36 on the TSX.


Information for this briefing was found via Timmins Today and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Kinross Gold: BMO Resumes Coverage Following Great Bear Purchase

On January 21st, BMO resumed coverage on Kinross Gold (TSX: K) after its acquisition of...

Tuesday, January 25, 2022, 03:40:00 PM

Canaccord: “We Expect Kinross’s Trailing 4Q Free Cash Flow To Surpass $800 Million In Q4”

Yesterday, Kinross Gold (TSX: K) released its third quarter financial results. The company reported adjusted...

Thursday, November 5, 2020, 12:27:00 PM

Kinross: BMO Views Revised Russian Asset Sale As Positive, Despite Halving Of Sales Figure

On June 15th, Kinross Gold Corporation (TSX: K) announced that it had completed its sale...

Saturday, June 18, 2022, 03:12:00 PM

Kinross Gold Beats Q4 2023 Estimates

Kinross Gold Corporation (NYSE: KGC) has reported quarterly earnings, announcing earnings of $0.11 per share...

Friday, February 16, 2024, 04:20:00 PM

Kinross Gold Reports $1.42B Sales, $275.6M Net Earnings In Q4 2024

Kinross Gold (TSX: K) has announced its fourth-quarter and full-year 2024 results, with quarterly metal...

Thursday, February 13, 2025, 07:45:52 AM