With the mining industry stuffed with bad news for the Timmins area, a good news item is creeping up from underground.

The announcement itself wasn’t for ‘underground,’ but rather for the Dome open-pit mine to have a new lease on life after the discovery of millions of minerals.

There is a process that Goldcorp has to go through first.  The next thing, according to Mine Manager Marc Lauzier, is to conduct a per-feasibility study.

“During that phase, we evaluate all the economics, decide what our final options are for mining and come up with a true economic study of the project,” he said.

Early estimates peg mine life to be at least over 10 years.  But Lauzier adds it’s hard to assess right now without that aforementioned study, which normally takes around 2-3 years to complete.

Add in a full feasibility study to do detailed engineering, the mine isn’t expected to be open for another five years.

Lauzier says it’s perfect timing for Timmins, and the announcement shows a commitment by the company to the city.

 

Filed under: Local News