GOLD: Rainy River project gets environmental nod

ONTARIO – The Rainy River gold project belonging to New Gold of Vancouver has received the environmental okay from Environment Canada. Mitigation measures and follow-up programs are stipulated for the high grade project 80 km from Kenora.

New Gold expects to make pre-production expenditures of $885 million to establish open pit and underground mines as well as a 21,000-t/d mineral processing plant. Commercial production could begin as early as 2016. The project is expected to produce 325,000 oz of gold annually for most of the first half of a 20-year life.

The project also requires the realignment of part of Hwy 600 and the construction of a 230-kV electric line.

A copy of the Environmental Assessment Decision Statement and more information on this project are available on the Canadian Environmental Assessment Registry website.