Anaconda Mining Gold Boro projected $2.1 billion impact on provincial GDP

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#1 Tue, Mar 8, 2022 - 9:29am
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Anaconda Mining Gold Boro projected $2.1 billion impact on provincial GDP

Anaconda Mining Inc is pleased to announce results of an independent socio-economic impact assessment of the Company's 100%-owned Goldboro Gold Project located in Nova Scotia the Goldboro Gold Project is currently the largest private sector project in Nova Scotia

Highlights of the Socio-Economic Impact of the Goldboro Gold Project:

*Over approximately 15 years Anaconda anticipates spending up to $1.7 billion on goods and services, the majority of which is expected to be in Nova Scotia, resulting in a potential provincial GDP impact of $2.1 billion.

*Household income in Nova Scotia may potentially increase by up to $1.1 billion from the development of the Project.

*Up to 538 full time direct jobs could be created during the two-year construction phase, of which 325 of those jobs are expected to be directly on site at the Project, along with a further 213 full time spinoff jobs each year over this period.

*Once operational, the Project is estimated to provide direct annual employment for approximately 215 full time positions at the Project site and 517 spin off jobs, in the Eastern Region of Nova Scotia where the current unemployment level of 14.2% exceeds the provincial average.

*Over the life cycle of the Project, including construction, operations and reclamation, the Goldboro Gold Project has the potential to create 735 new jobs a year in Nova Scotia for 15 years.

*Based on the current plan outlined in the Feasibility Study, the Project is estimated to generate $528 million in income and mining taxes at the federal, provincial and municipal level from direct and spin-off economic activity

*At $1.7 billion in direct spending and $2.1 billion impact on provincial GDP, the Goldboro Gold Project is currently the largest private sector undeveloped project in the Province of Nova Scotia and would be comparable to other planned projects including the Halifax Infirmary Expansion and the Sydney Container Terminal

These socio-economic assessments, completed by Group ATN, an Atlantic-wide third-party independent consulting and applied research firm, outlines the potential benefits accruing to the Province of Nova Scotia and also to the Mi'kmaq of Nova Scotia. The full report is available on the Company's website at


Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the top-tier Canadian mining jurisdictions of Newfoundland and Nova Scotia

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