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TORONTO – Kinross Gold Corporation’s Great Bear Project has been accelerated under the Province of Ontario’s ‘One Project, One Process’ framework, the first gold mine and the third project overall since the process .

Located 24 kilometres southeast of Red Lake in northwestern Ontario, the project is a high-grade combined open-pit and underground mine with an initial mine life of 12 years.

Kinross has begun early onsite work and infrastructure planning, including connections to nearby power lines and a natural gas pipeline, explains a release. Major construction is expected to start in 2027, with production planned for 2029.

The project represents a more than $5 billion capital investment and is expected to create 900 jobs during its operational life.

Thousands of additional construction and indirect jobs will also be created during the build-out phase.

“This project is cornerstone of Kinross’ global development portfolio and has potential to become one of Canada’s premier gold operations,” the release reads. “Kinross’ preliminary economic assessment outlines a high-grade operation producing an average of over 500,000 ounces of gold per year at its peak and a potential for 5.3 million ounces of initial production, with longer-term expansion potential supported by an ongoing regional exploration program.”

The project also complements other work that is underway in the Red Lake region such as , a proposed line that would run from Dryden to Red Lake to power new mines and growing communities.

Through 1P1P, the Ministry of Energy and Mines acts as a single point of contact to co-ordinate all necessary provincial approvals and Indigenous consultation to reduce government review time by 50 per cent. The Crown’s duty to consult obligation remains upheld under the framework.

There are currently 37 active mining operations in Ontario, 19 are gold mines, the release adds.