Underground at the Black Fox mine, near the Grey Fox deposit. Credit McEwen Mining
McEwen Mining (NYSE, TSX: MUX) is banking on the Grey Fox deposit to drive production growth at its Fox Complex just outside Timmins, Ontario.
McEwen plans to lift Fox Complex output from roughly 30,000–35,000 gold-equivalent oz. today to about 60,000 oz. by 2027 and 120,000–150,000 oz. by 2030, the company said Thursday in a statement. That’s about half of McEwen’s projected total output of 225,000–255,000 GEOs by then. The rest will come from the Gold Bar mine in Nevada and the company’s 49% stake in Argentina’s San José mine.
“We are currently developing a pre-feasibility study for Grey Fox that will better define its potential and production timeline,” chief owner Rob McEwen said in a press release. The study is expected later this year.
The Timmins mining camp is booming. Newmont’s (NYSE: NEM,…
