AI-generated illustration; not a photograph of the reported event.
- calendar_today October 22, 2026
Gold Terra Outlines Ambitious Timeline for Con Mine Restart
Residents of Yellowknife gathered at the city's Ski Club on Wednesday evening to attend a town hall hosted by Gold Terra, where the company's CEO, Gerald Panneton, presented the latest efforts to restart gold mining operations at the historic Con Mine site. The meeting provided an opportunity for community members to ask questions and hear updates on plans for drilling and future mine operations near the southern edge of the city.
Exploratory Drilling and Development Plans
Panneton detailed Gold Terra's ongoing and planned exploratory drilling activities, highlighting work at Tin Can Hill and within the mine’s old tailings pond. He also shared that the company intends to continue exploration at Walsh Lake, located just north of Yellowknife, once winter conditions allow the lake to freeze.
The CEO emphasized the strategic advantage of existing infrastructure at Con Mine, including two shafts that are considered viable for reuse. He noted that the decision to pursue the con mine restart was influenced by the current high price of gold, exceeding $4,000 US per ounce.
Community Questions on Environmental and Social Impacts
Audience members raised several questions addressing how the proposed mine operations might impact Yellowknife. Concerns included the source of power for the mine given the city’s already strained electricity system, the possible effects of construction and operations on local quality of life, the prospects for local employment, and challenges related to housing new workers amid an ongoing housing crisis.
Panneton responded that the company aims for the mine to generate its own power using LNG. He assured residents that modern technology, coupled with the specifics of Con Mine’s geology, would minimize risks related to arsenic and other pollutants. Gold Terra is also evaluating options to house workers associated with the mine’s restart.
Permitting, Timeline, and Mine Longevity
Panneton described Gold Terra’s plans as being on an “aggressive” schedule, with hopes to secure a mine permit by 2027. If the permit is approved, the company expects 12 to 16 months of construction before gold mining would resume. Panneton estimated that the revived Con Mine could potentially operate for over 20 years.
The CEO acknowledged that when Gold Terra originally signed a purchase agreement with Newmont six years ago, a target of 2 million ounces of gold was set to justify reopening. However, with current gold prices, he now considers one million ounces sufficient for restarting mine operations.
Community Perspectives on the Restart Effort
Yellowknife resident Steven Thomson, who lives near the Con Mine site and has seen Gold Terra's drilling activities, attended the town hall seeking clarity on the company’s plans. He expressed confidence in the responsible mining practices outlined during the event but emphasized the importance of permitting and environmental safeguards.
Kudzai Henry Mabika, another local resident and mining engineer, attended to learn more about employment prospects in the wake of recent diamond mine closures. While recognizing the potential for job creation, Mabika noted that the company still faces challenges in addressing longstanding community concerns about arsenic pollution associated with historical mining activities in the region.
He commented that explanations regarding environmental safety might not fully reassure those unfamiliar with technical aspects of mining, underscoring the need for further engagement and clarity as the project progresses.
Next Steps for the Con Mine Restart
Gold Terra’s ongoing efforts to restart Con Mine continue to draw attention from both local residents and potential workers. The company’s stated focus includes obtaining necessary permits, conducting safe exploratory drilling, and ensuring that environmental protections and housing needs are considered alongside economic goals.
Source: cbc.ca.
