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    Eldorado’s McIlvenna Bay mill expansion: throughput and capex lens for mine planners

    September 3, 2026|

    Reviewed by Tom Sullivan

    Eldorado’s McIlvenna Bay mill expansion: throughput and capex lens for mine planners

    First reported on MINING.com

    30 Second Briefing

    Eldorado Gold is evaluating a 43% expansion of the McIlvenna Bay processing plant in Saskatchewan, including a new silver-lead circuit, as the underground copper-zinc-gold-silver mine ramps towards commercial production in Q3 with more than 400,000 tonnes of material stockpiled. The C$1.32 billion build-out has already delivered first copper concentrate in June and zinc and pyrite concentrates in July, with 2026 output guided at 5–10 million lb copper and 3,000–6,000 tonnes zinc. Grid power is secured via an 85 km SaskPower transmission line and substation, and 14,000 metres of drilling is targeting the Tesla zone and Bigstone deposit.

    Technical Brief

    • Capital requirement from June 2024 to commercial production is estimated at US$952 million (C$1.32 billion).
    • McIlvenna Bay is designed for an 18‑year mine life under the March 2025 feasibility study.
    • Average annual output over life-of-mine is forecast at 41 Mlb Cu and 54 Mlb Zn.
    • Gold and silver by-products are projected to average 20,000 oz Au and 444,000 oz Ag per year.
    • Site lies ~65 km west of Flin Flon, with underground access supporting copper‑zinc‑gold‑silver extraction.
    • Workforce currently numbers about 380, expected to rise to ~450 post‑ramp‑up, with 34% Indigenous employees.
    • Federal support includes C$20m for power and EV infrastructure, C$41m for clean tech, and ~C$156m growth funding.

    Our Take

    With McIlvenna Bay in Saskatchewan ramping up copper output and Skouries in Greece now commissioning (21 July 2026 item), Eldorado Gold is building a two-continent copper platform that can partially offset earnings volatility from its gold‑heavy portfolio highlighted in recent gold‑price coverage.

    The layered federal support from Natural Resources Canada, Innovation, Science and Economic Development Canada and the Canada Growth Fund at McIlvenna Bay signals Ottawa’s willingness to underwrite grid‑connected copper and zinc projects in Saskatchewan, which could be relevant for other critical‑minerals plays in the province such as potash and uranium operations noted in our database.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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