The miner achieved a gold production of 450,058 ounces in 2023 and successfully met its annual guidance for the third consecutive year.

The company, which is 26% owned by the Lundin family trust, is proposing the $572 million project that environmentalists are fighting.

Silver production, however, saw a 15% decline due to decreased production at the San Jose mine Mexico.

Nunavut is home to some of the minerals critical for battery production.

The project 470 km northwest of coastal Abidjan, the West African country’s largest city, has a net present value of $1.1 billion at a 5% discount rate with a 31% internal rate of return.

The company has applied for a 'substantially started' status, which, if approved, would make KSM's environmental assessment certificate valid for the life of the project.

Gold is now at its lowest in 2024 after starting the year around the $2,065/oz. level.