TIMMINS – The Detour Gold mine might be located close to Cochrane, but the company continues to be a vital source of revenue for the mining supply sector and employees in Timmins.
That was part of the message presented last week when Detour president and chief executive officer Paul Martin spoke to Timmins city council outlining the progress of the mine and plans for expansion at what Martin said is a “very economic and viable operation” where the cost of producing gold is at less than $900 per ounce.
If there was any doubt about the company’s economic impact on Timmins, Martin laid out the cold, hard numbers. He revealed there are 126 Timmins companies that provide goods and services to Detour Gold. “Over the last 18 months, we have purchased $60.5-million worth of supplies or contracting services from them,” Martin added.
That works out to more than $3 million a month in local purchases. Martin said because Timmins is specifically a gold-mining city it has virtually all the necessary goods and services that Detour needs.
Martin also told city council his company has appreciated municipal support in the past and he is counting on that support in the future.
He did not explain that comment fully, but it might have something to do with the fact Detour has plans to expand its operation to a new mine, called West Detour, and that the permitting process is just beginning.
“We started with one open pit, we now have a second open pit we are working to permit, called West Detour, which adds 1½-million ounces to our reserves. It will also increase our employment numbers and extend the mine life,” said Martin.
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