St Barbara Greenlights Touquoy Restart with Local Contracts and Job Boost
St Barbara has given the final investment nod to restart its Touquoy gold operation in Nova Scotia, signing major local contracts and aiming to resume ore processing by the end of 2026.
- Final Investment Decision approved for Touquoy Restart
- Contracts signed with Nova Scotia rural companies
- Nearly 200 new jobs expected
- Ore processing targeted by end of 2026
- Supports local economic growth and environment management
Touquoy Restart Advances with Final Investment Decision
St Barbara Limited (ASX:SBM) has formalised its commitment to restart the Touquoy gold operation in Nova Scotia by approving the Final Investment Decision (FID). This milestone follows the recent approval of amended Industrial Approval permit conditions from the Nova Scotia Department of Environment and Climate Change, clearing a major regulatory hurdle announced earlier this month.
Local Partnerships Signal Economic and Employment Benefits
In a move that underscores its focus on regional development, St Barbara’s subsidiaries inked contracts with two rural Nova Scotian firms, Alva Construction and MacGregor’s Industrial, to provide essential support services for the reopening and processing phases. These agreements are expected to generate nearly 200 jobs, primarily benefiting local communities and contributing to the province’s GDP.
Managing Director Andrew Strelein highlighted the significance of the restart, stating it reflects Nova Scotia's openness to resource investments while balancing environmental stewardship. The Nova Scotia Minister of Natural Resources and Renewables, Kim Masland, echoed this sentiment by emphasising the importance of keeping employment opportunities close to home for rural residents.
Operational Timeline and Strategic Context
St Barbara anticipates recommencing ore processing at Touquoy by the end of calendar year 2026. While the company has not disclosed detailed capital expenditure or production forecasts in this announcement, this restart forms part of a broader growth strategy. Just days earlier, St Barbara outlined plans for a sharp increase in gold production to 191,000 ounces by FY30, driven by expansions including Touquoy and the New Simberi project. The company is well-funded with over A$500 million in cash and capital commitments, positioning it to execute these plans effectively.
This recent development builds on the company's earlier regulatory wins that secured key permits for Touquoy’s restart, which projected a 13-month production period yielding approximately 38,000 ounces of gold and generating significant cash flow potential. The current contracts and FID approval add operational certainty to those projections, reinforcing St Barbara’s regional footprint in Nova Scotia.
Bottom Line?
St Barbara’s Touquoy restart advances with strong local partnerships and regulatory backing, setting the stage for regional economic impact and production ramp-up by late 2026.
Questions in the middle?
- What will be the capital expenditure and production profile once operations restart?
- How will the nearly 200 new jobs impact the local Nova Scotia economy in the medium term?
- What are the potential environmental risks and how will they be managed during the restart?
