Artemis Gold inks $312M construction contract for Blackwater plant in BC 

Artemis Gold (TSXV: ARTG) has moved closer to the start of construction at its Blackwater gold project in British Columbia with the award of a $312 million engineering, procurement, construction and commissioning (EPC) contract for the processing plant and associated infrastructure to Sedgman Canada.

The contract is expected to be executed by June 30, this year.  

Construction of the plant, which is subject to permits, is expected to begin in the fall, while the first gold pour is expected in the first half of 2024.  

“The award of the EPC job for the process plant at Blackwater is another significant milestone for Artemis, reflecting a competitive process involving multiple bidders,” the company’s CEO Steven Dean said in a press release. “We will work to finalize the design and engineering of the Blackwater project in advance of a start of major development activities.”  

Located in central British Columbia, about 446 km northeast of Vancouver, the Blackwater project is expected to produce an average of 339,000 oz. gold per year at an all-in sustaining cash cost of $850 per oz. during the life of mine period of 22 years, according to the project’s feasibility study. It envisages an open pit mine.