KCMD To Develop Underground At Newmont’s Hope Bay

Kitikmeot Cementation Mining and Development (KCMD), has signed a letter of intent with Newmont Mining (NMC-T, NEM-N) subsidiary Hope Bay Mining Ltd. to carry out underground development at the Doris North exploration project in Nunavut.

Roy Slack, president of KCMD, said in a release that the letter of intent is in-line with the company’s increasing presence in the North. The company also does underground development at Rio Tinto (RTP-N, RIO-L) and Harry Winston Diamond’s (HW-T, HWD-N) Diavik diamond mine in the Northwest Territories.

“The expansion of KCMD as a dominant contractor in the North, with operations now at both Diavik and Hope Bay, as well as the opportunity to build a long-term relationship with Newmont and the Hope Bay team, are just two of the many reasons we are excited about this project,” said Slack in a release.

The Doris North exploration project is part of Newmont’s large Hope Bay project, which encompasses a number of gold and precious metal bearing deposits.

KCMD is a partnership between Kitikmeot region, Nunavut-based business developer Kitikmeot Corp. and mine contractor Cementation Canada.

Established in 2005, the partnership services work in the North, while providing a platform for aboriginal employment and training.

President and CEO of Kitikmeot Corp., Charlie Lyall, applauded the partnership for its work.

“The work we have done with the Hope Bay group to date has shown us that they are respectful of the North and they recognize the importance of this development to our community. We look forward to working with them on this major new mine development,” said Lyall, in a release.