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Alamos Gold’s Island Gold Mine Continues Its Track Record of Creating Value for All Stakeholders

Dec 16, 2020
TORONTO, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (Alamos) has released its first Economic Benefits Assessment of the Island Gold Mine report, which provides an overview of the mine’s economic value and community benefits in the region. Results show that the growing number of full-time jobs and training opportunities has positioned the mine to become an economic engine for the future of the region, including positively impacting the closest town of Dubreuilville. This trend will continue as a result of Alamos’ recent $684 million investment to expand the operations at the Island Gold underground mine, including constructing a new shaft, expected to be completed in 2025. This expansion will double the mine life and allow it to continue operating until at least 2035.
 
In addition, the report highlights the mine’s response to COVID-19, reflecting a strong collaboration between the mine and community stakeholders. The report, prepared by EY, is available here: https://www.alamosgold.com/islandgoldeconomicbenefits
 
“Good mines and good people are the foundation of our growth in Northern Ontario. When we took root in the region three years ago, we set out to hire locally, train great talent, and create tremendous value in the community, which we continue today,” said John A. McCluskey, President and Chief Executive Officer. “Our next phase of growth at Island Gold will result in new jobs and opportunities in the region, create a lasting legacy that benefits all Alamos stakeholders, and reflect our core values of safety, teamwork, environmental sustainability, commitment and integrity.”
 
In response to COVID-19, Alamos extended its support to the local community by providing supplies locally and funding a meal service program in Dubreuilville for persons in need, at high risk and facing economic challenges. In late March, Alamos made the decision to temporarily suspend operations at Island Gold given the unique set-up of the operation with both a large local as well as a fly-in, fly-out workforce. Alamos began safely ramping up operations at the beginning of May and returned to normal operating levels in June.
 
Report highlights include:
 
  • As of early 2020, Island Gold’s employees account for nearly 22% of total mining employment in the Algoma region, sustaining 379 jobs and 560 construction jobs annually over the past 3 years (as explained in Table 1)
  • With the planned expansion of the Island Gold Mine between 2020 and 2035, activities are expected to sustain over 400 jobs annually, as well as over 3,100 construction jobs overall (as explained in Table 2)
  • Among Island Gold employees, approximately 6% belong to Indigenous communities, which is more than twice the mining industry average of 2.4% in Ontario
  • Island Gold’s practice of local hiring has increased economic stability in the local communities of Dubreuilville, Wawa, and White River, offering allowances and incentives to employees to move near the mine in Dubreuilville, indirectly helping to increase rural population as well as local resources and infrastructure
  • The Island Gold mine also helps contribute towards the formation of a highly skilled mining workforce and the accumulation of human capital in the local communities: it employs a wide range of tradespersons, such as welders, truckers, surveyors, scoop operators, electricians, mechanics, bolters, millwrights, construction miners, geologists, blasters, conventional miners, engineers, and drillers
  • Alamos provides employees with opportunities to further develop their skills, expand their trades and attend training programs
  • Alamos offers training and education to community members to maintain a local qualified workforce and help residents acquire the qualifications for long-term employment in the mining industry
  • Island Gold’s employees help augment the local economy, through a host of related activities by supporting local businesses while residing in Dubreuilville
  • Alamos acknowledges that Indigenous communities constitute some of their most important partners, fully respects their protected rights, and continually looks for opportunities to generate wealth and socio-economic growth generated from mining operations within their traditional territories including through partnerships, employment, skills development, business and spin-off opportunities.

 

Table 1: Summary of Total Historical Economic Contributions
 
 
(1)  Figures for wages, GDP and output are presented in millions and 2020 CAD$. The numbers are reflective of total (direct and indirect) average annual OPEX contributions for 2017-2019 and cumulative total CAPEX contributions for 2017-2019. Contributions to FTEs from CAPEX are presented in person-years.
(2)  Sources: Alamos data and EY calculations.
 
Table 2: Summary of Total Projected Future Economic Contributions
 
 
(1)  Figures for wages, GDP and output are presented in millions and 2020 CAD$. The numbers are reflective of total (direct and indirect) average annual OPEX contributions for 2020-2035 and cumulative total CAPEX contributions for 2020-2035. Contributions to FTEs from CAPEX are presented in person-years.
(2)  Sources: Alamos data and EY calculations.
 
ABOUT ALAMOS GOLD INC.
 
Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, and the Mulatos mine in Sonora State, Mexico. Additionally, the Company has a significant portfolio of development stage projects in Canada, Mexico, Turkey, and the United States. Alamos employs more than 1,700 people and is committed to the highest standards of sustainable development and engagement with host communities. The Company’s shares are traded on the TSX and NYSE under the symbol “AGI”.
 
FOR FURTHER INFORMATION, PLEASE CONTACT:
 
Rebecca Thompson
Vice President, Public Affairs
Alamos Gold Inc.
rebecca.thompson@alamosgold.com
T: (416) 368-9932 x5448
 
Development Boomtruck Operator
  • Safely move material as directed. Report and document all material moved accurately to his/her Supervisor;
  • Accurately report to supervisor the material needed in storage areas U/G
Rock Breaker Operator
  • Operate rock-breaker;
  • Perform pre-op and post-op inspections on equipment
Scissordeck Bolter
  • Install ground support as per company standard;
  • Install and maintain services;
  • Load development rounds
Ground Control Engineer
  • QAQC of shotcrete, ground support installation, grouting, ground support auditing and paste fill;
  • Document inspections of underground stoping and development;
  • Rock mass characterisation and classification
Mine Engineer
  • Assist with blast improvement investigations;
  • Look for opportunities to improve efficiencies;
  • Provide guidance to EIT’s
Construction Miner - Transmixer
  • Operate equipment such as transmixer and shotcrete sprayer;
  • Assist in installation, modification and repairs of UG infrastructures
Geological Technician/or Junior Geologist
  • 3D digitizing of underground geological mapping and integration into 3D mining software.
  • Digitize geological surface geological mapping lithology, structure and mineralization
  • Digitize chip sampling of ore development headings as required
Mill Operator/Labourer
  • Works and ensure all workers work in compliance with the Occupational Health & Safety Act, Regulations for Mines and Mining Plants and all other applicable government standards and regulations;
  • Adheres to and enforces all safety and environmental considerations
Document Control Coordinator - Phase III
  • Implement document and data management solutions with a primary focus on workflow, document control, information security and records management.
  • Provide ongoing training and support to end users in the use of the document management system.
  • Ensure project and operations teams comply with the document management requirements and procedures
Project Controls Manager - Phase III
  • Development and implementation of project controls systems and procedures.
  • Working with accounting personnel to ensure accurate reporting and approval of accruals, forecasts, and project status.
  • Early identification and notification of deviations and variances to project baseline schedule and spend