A new gold mine coming to Guysborough County is expected to create 735 jobs and bring in $2.1 billion to the Nova Scotia’s gross domestic product (GDP).
The province says the Goldboro gold mine with Canadian company, NexGold received its industrial approval, Wednesday.
It is projected to generate $1.1 billion in direct and indirect household income in Nova Scotia over 15 years.
That is in addition to $528 million in tax revenue – $274 million provincial, $44 million municipal and $209 federal.
The approval for this 15-year project comes after seven years of consultation and study and comes alongside benefit agreements with the municipality and the Assembly of Nova Scotia Mi’kmaw Chiefs.
“Mining is the backbone of modern economics. The foundation of everything from green energy to medical to defense applications while sustaining economies, communities and governments,” said Janice Zinck, Executive Director of Natural Resources at the Department of Natural Resources.
“If it can’t be grown, it must be mined.”
The day-to-day operations are regulated by industrial approval that has strict terms and conditions and will be monitored regularly.
The province has leased 779 hectares of Crown land to NexGold to build the mine which will be partly on Crown land as well as land the company owns.
Two approvals are needed from the province’s environment department for metal mining projects – an environmental assessment and industrial approval, which was received June 2, 2022.
The mining industry accounts for at least 2,500 jobs in Nova Scotia that pay an average of $100,000 a year in wages and benefits.
Work is expected to start in 2026.
