St Barbara (ASX:SBM) has greenlit the Touquoy Restart Project, marking a turning point for the resources sector in Atlantic Canada.
The gold miner confirmed the approval of a final investment decision following a regulatory breakthrough earlier this month.
The decision was solidified after the Nova Scotia Department of Environment and Climate Change approved essential amendments to the project’s industrial approval permit conditions, a milestone the company had been anticipating since mid-April.
St Barbara’s subsidiaries have already executed major service contracts with two prominent rural Nova Scotian firms, Alva Construction and MacGregor’s Industrial.
The partnerships are designed to support the comprehensive reopening and subsequent processing operations at the site.
St Barbara’s Managing Director and CEO, Andrew Strelein, emphasised that the processing of stockpiled ore represents a significant advancement for the company’s regional footprint.
Beyond the corporate gains, the project is expected to generate nearly 200 new jobs, contributing directly to the province's GDP while maintaining a commitment to environmental stewardship.
Nova Scotia’s Minister of Natural Resources and Renewables, Kim Masland, welcomed the announcement, highlighting the value of keeping rural Nova Scotians employed "close to home".
If operations remain on schedule, the company anticipates that ore processing at Touquoy will recommence by the conclusion of 2026.