Equinox Gold Corp. has secured a positive Record of Decision from the United States Bureau of Land Management for the South Railroad project in Nevada, completing the federal environmental review process and triggering the start of early works construction.

Applications for key state permits and water rights have been submitted for the open-pit heap leach operation, which is positioned for first gold production in 2028. Based on a 2026 feasibility study, the project is expected to average 130,000 ounces of gold annually over its first five years and exceed 100,000 ounces per year across an initial ten-year mine life. Initial capital costs are estimated at $395 million, including $70 million to $80 million accounted for in Equinox Gold’s updated 2026 guidance.

“Receiving the Record of Decision is a major milestone for the South Railroad project and advances our next phase of growth. The incremental production from South Railroad will be the first meaningful contributor towards our objective of adding 800,000 ounces of annual gold production from our organic development pipeline. Our Board of Directors had previously approved the start of construction, and with the Record of Decision now in hand, South Railroad is positioned for first gold production in 2028. We thank the Bureau of Land Management, Secretary of the Interior Burgum, the U.S. Administration, and the Permitting Council for their support of the Project, including its designation as a FAST-41 covered project, and for their commitment to responsible domestic mineral development.”

— Jason Simpson, President of Equinox Gold

Mining equipment is scheduled to begin arriving at the Nevada site by year-end 2026, with initial mining activities targeted to start in spring 2027. Detailed engineering currently stands at 55.2% complete, while major contracts for power generation, process plant equipment, concrete, and structural steel have already been awarded.

The company is advancing site operations hiring and workforce ramp-up through the second half of the year. Equinox Gold holds a wider 25,000-hectare land package along the Carlin Trend, providing scope for resource expansion and new discoveries.

Read the full announcement: Equinox Gold Receives Positive Record of Decision for South Railroad; Significant Permitting Milestone Unlocks Next North American Growth Project