Nova Scotia gold mine recieves industrial approval

Key Takeaways:

• The Goldboro gold mine is expected to create 735 jobs, add $2.1 billion to Nova Scotia’s GDP, and generate $528 million in tax revenue over 15 years.
• The project received its industrial approval after seven years of consultation, following an earlier environmental assessment approval in 2022.
• NexGold has signed benefit agreements with local and Mi’kmaw governments, and the mine will be subject to strict environmental and operational conditions under provincial oversight.

The Whole Story:

A new gold mine in Guysborough County has received industrial approval from the Nova Scotia government, clearing the way for a project expected to create hundreds of jobs and inject billions into the province’s economy.

The Goldboro gold mine, owned by NexGold Mining Corp., is projected to generate 735 jobs and contribute $2.1 billion to Nova Scotia’s gross domestic product over its 15-year lifespan. Work is set to begin in 2026 following seven years of consultation and study.

The province says the project will also provide $1.1 billion in direct and indirect household income and $528 million in tax revenue, including $274 million provincially, $44 million municipally and $209 million federally. NexGold has signed benefit agreements with both the Municipality of the District of Guysborough and the Assembly of Nova Scotia Mi’kmaw Chiefs.

Industrial approvals set conditions for daily operations and environmental safeguards. The Department of Environment and Climate Change has created a specialized oversight team to monitor large industrial projects, including mining. The department says the Goldboro project will be subject to stringent terms and conditions covering construction, operation, closure and site reclamation.

Kevin Bullock, NexGold’s president and CEO, called the approval “a tremendous moment” and said the company is committed to operating “in an environmentally responsible and sustainable manner.” Guysborough Warden Paul Long said the mine would bring “significant socio-economic benefits” to the region through job creation, community agreements and new tax revenue.

The mining industry in Nova Scotia currently supports about 2,500 jobs with average wages of $100,000 a year. The Goldboro project has a planned 15-year timeline, including 11 years of operation and a remediation phase.

NexGold received environmental assessment approval for the project in June 2022.