Lycopodium Lands A$93M EPCM Contract for Major Canadian Gold Mine Expansion
Lycopodium has secured a A$93 million EPCM contract to expand Artemis Gold’s Blackwater Mine in Canada, boosting the mine’s throughput capacity to one of the largest in the country.
- A$93 million EPCM contract awarded for Blackwater Expanded Phase 2
- Expansion will raise throughput to 21 million tonnes per annum
- Lycopodium involved from feasibility through early construction
- Blackwater among Canada’s top three gold mines by capacity
- Early works including concrete pours progressing ahead of schedule
Significant EPCM Award Strengthens Lycopodium’s Canadian Footprint
Lycopodium Limited (ASX:LYL) has secured a substantial Engineering, Procurement and Construction Management (EPCM) contract valued at approximately A$93 million for the Expanded Phase 2 (EP2) Project at the Blackwater Mine in British Columbia, Canada. This contract forms a key part of Artemis Gold’s broader expansion strategy to elevate the mine’s processing capacity to 21 million tonnes per annum (Mtpa), positioning Blackwater among the top three gold mines in Canada by throughput.
Project Scope Builds on Prior Involvement and Early Works Progress
The EP2 expansion will add 13 Mtpa of throughput capacity, complementing the Phase 1A project’s 8 Mtpa to reach the targeted 21 Mtpa total. Lycopodium’s role extends beyond this latest contract; the company was integral to earlier phases, having delivered the feasibility study and front-end engineering and design (FEED) for the new plant. Early construction activities are already underway, with earthworks progressing and the first concrete pour for the ball mill foundations completed ahead of schedule, signalling strong momentum.
Strategic Importance of Blackwater and Lycopodium’s Canadian Operations
Located roughly 160 kilometres southwest of Prince George and 446 kilometres northeast of Vancouver, Blackwater is a significant open-pit gold and silver mine that commenced commercial production in May 2025. Lycopodium’s Managing Director and CEO, Peter De Leo, highlighted the importance of continuing to work on a world-class asset in a tier-one mining jurisdiction. He emphasised the meaningful nature of this project for Lycopodium’s Canadian-based business, reinforcing the company’s strategic presence in North America.
Lycopodium’s Growing Project Pipeline in Gold Mining
This contract award adds to Lycopodium’s expanding portfolio of large-scale mining projects. Earlier in the year, the company secured a A$196 million EPCM contract for the Doropo Gold Project in Côte d’Ivoire and a A$118 million contract for Ethiopia’s Tulu Kapi Gold Mine, underscoring its growing influence across multiple continents. These wins collectively reflect Lycopodium’s deepening expertise in delivering complex engineering and project management services within the gold sector.
Bottom Line?
Lycopodium’s continued involvement in Blackwater’s expansion cements its role in a major North American gold project, with execution progress and Artemis Gold’s broader strategy key to watch.
Questions in the middle?
- How will Artemis Gold’s overall EP2 budget evolve as construction advances?
- What operational milestones will mark the transition from construction to full production ramp-up?
- Could Lycopodium’s Canadian success lead to further regional project awards?
