Equinox Gold secures last federal approval for its South Railroad project, removing a key regulatory barrier for Nevada operations.
Equinox Gold shares climbed 2.9% after the U.S. Bureau of Land Management issued a record of decision for the South Railroad mining project in Nevada. The approval completes federal permitting under the National Environmental Policy Act, allowing construction to proceed.
The project had faced delays due to regulatory reviews, with prior permits secured at the state level. Analysts had expected federal clearance by mid-2024, aligning with the company’s timeline for production start in 2026. Nevada accounts for a significant portion of U.S. gold output, and the mine is projected to add 150,000 ounces annually.
The stock’s gain outpaced the broader gold miners index, which rose 1.2% on the day.