GUYSBOROUGH COUNTY: A major new gold mine in Guysborough County is set to bring a surge of jobs and economic growth to Nova Scotia after receiving its industrial approval on Aug. 27. The Goldboro Gold Project, owned by NexGold Mining Corp., is expected to create 735 jobs and contribute $2.1 billion to the province’s gross domestic product over its lifespan.
The approval follows seven years of consultation and study and clears the way for work to begin in 2026. The project is also projected to generate $1.1 billion in direct and indirect household income and about $528 million in tax revenue – including $274 million for the province, $44 million for municipalities, and $209 million for the federal government.
NexGold’s CEO and President Kevin Bullock told reporters the company is working to secure federal approval, expected within the next 90 days, before project financing can be finalized and construction can begin next year.
“Until you have your permits it’s difficult to raise the funds to build a project,” Bullock explained. “When that’s all done then there’s windows of opportunity to build; but our goal is to start building next year.”
The company anticipates a two-year construction phase, followed by approximately 14 years of production.
During the first 11 years, the mine is expected to yield roughly 100,000 ounces of gold annually. Bullock noted that job creation will be higher during construction, but substantial employment opportunities will continue once the mine is in operation.
“There will be more jobs when we are building up than there are when we are in operation, but both phases have substantial job creation,” he said. “We hope to bring Nova Scotians home that are working away, and we hope to bring Nova Scotians to an area where there’s not a lot going on. We think this is going to be a multi-decade mine.”
The project also includes benefits agreements with the Municipality of the District of Guysborough and the Assembly of Nova Scotia Mi’kmaw Chiefs. Paul Long, Warden of the Municipality of the District of Guysborough, highlighted the socio-economic impact for local communities.
“The NexGold Goldboro Gold Project in MODG, will provide significant socio-economic benefits for the municipality and surrounding areas during the construction and operational phases of the proposed development,” Long said. “The local benefits include meaningful direct and indirect job creation, community benefit agreements, growing the GDP in Nova Scotia, and providing additional municipal taxation revenues.”
NexGold’s industrial approval comes with stringent environmental safeguards. It ensures regulatory oversight from the start of construction through operation, closure, and reclamation of the mine. The Department of Environment and Climate Change’s large industrial file team will monitor compliance to protect the environment.
Bullock stressed that the company is committed to sustainable development.
“This is a great day for Nova Scotians and the Goldboro Gold Project,” he said. “The NexGold team has a demonstrated reputation of developing and operating in an environmentally responsible and sustainable manner. We respect the land and communities in which we work and live.”
The Goldboro mine, using a combination of Crown and privately-owned land, is expected to further strengthen the province’s mining sector over its 15-year timeline, which includes development, operation, and remediation phases.