The Canadian mining company Equinox Gold Corporation has made the leap from junior miner to intermediate miner with now 7 active mines in almost record time.
Rapid business development
It was not until 2017 that the current mining company, Equinox Gold Corporation, was formed through the merger of NewCastle Gold, Trek Mining and Anfield Gold Corporation. In its early days, Equinox Gold operated purely as an exploration company. However, just 1 year after its founding, the Canadian exploration company transformed itself into a gold producer with the acquisition of the Mesquite Mine in California.
Meanwhile, the portfolio includes a total of 7 active mines and 2 additional projects, all of which are located in the Americas. In addition to the Mesquite Gold Mine, the Company operates another mine in California at Castle Mountain, as well as 2 active mines in Mexico and three gold mines in Brazil. In addition, the Santa Luz project in Brazil and the Greenstone project in Canada expand Equinox Gold’s scope of operations.
Equinox Gold is one of the absolutely solidly financed gold producers and now has a market capitalization of more than 700 million Canadian dollars.
In the second quarter of 2021 alone, Equinox Gold produced nearly 123000 ounces of gold, making it one of the intermediate miners.
The Mesquite Gold Mine in California is the company’s prestige property. The acquisition of the mine in 2018 marked the beginning of the company’s rise and transformation from an exploration company to a gold producer.
The Mesquite Mine is a traditional, high-yielding gold mine that produces about 140,000 ounces of gold per year. Gold is mined in open pits, with processing using the heap leach method.
About 200 miles away is the Castle Mountain Mine. Gold production was started there in 2020.
In Mexico, Equinox Gold has taken over the Los Filos mining complex, where gold has already been produced in three open pit mines and 2 underground mines since 2008. Gold is also processed in Mexico using heap leaching.
In addition, the Mercedes Mine in Mexico also belongs to the company. Gold and silver are mined there in underground mining.
In Brazil, Equinox Gold owns two underground mines, Aurizona and Fazenda Mines, as well as the RDM open pit mine.
Projects of the future
At the Greenstone Project, one of Canada’s largest gold mines is currently under construction. The mine is expected to produce around 400000 ounces of gold per year in the future. Sixty percent of the mine project is accounted for by Equinox Gold. The Greenstone project will therefore be an important cornerstone of the company’s portfolio in the future.
Construction of the Santa Luz mine in Brazil was fully approved in 2020. As much of the infrastructure was already in place due to gold production in earlier times, this project is very interesting for Equinox Gold due to the relatively low capital expenditure.