🟡 Artemis Gold Greenlights Phase 2 Expansion at Blackwater Mine

Artemis Gold has officially approved an expanded Phase 2 development of its Blackwater gold mine in British Columbia, aiming to boost annual production to 500,000 ounces. The expansion is contingent on BC Hydro confirming sufficient electricity supply, with final confirmation expected in early 2026.

• Production target: 500,000–525,000 oz/year over the first 10 years

• CapEx estimate: C$1.44 billion, primarily funded from cash flows

• Throughput increase: From 8 Mtpa (Phase 1A) → 21 Mtpa by 2028

• Timeline: Early works in 2026; full expansion by late 2028

Expert insight: Securing reliable hydroelectric power is critical—once confirmed, Blackwater could become one of Canada’s largest and most efficient gold producers.

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