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Equinox Gold okays $436M Valentine mine expansion

The Phase 2 project will expand processing capacity to about 13,700 tonnes per day and target average annual output near 223,000 ounces, with construction set to finish in late 2028.

Reported · Written up by our desk · Mining

Equinox Gold has approved a $436 million expansion of its Valentine gold mine in central Newfoundland, Canada, as it builds out growth plans after its late July merger with Orla Mining, Mining.com reports.

The Phase 2 expansion will increase processing capacity to about 13,700 tonnes per day and raise average annual gold production to approximately 223,000 ounces. The total project budget includes a $54 million contingency, and updated 2026 guidance sets growth capital for the project at $50 million to $60 million.

Construction is expected to be completed in late 2028. Valentine entered commercial production in late 2025, and the company said the expansion is intended to make the mine a larger contributor as work advances over the next two years.

Equinox also released second-quarter results, reporting gold production of 176,836 ounces and revenue of $769.8 million, reflecting stronger performance from its Canadian operations, according to Mining.com.

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