Equinox Gold Gets BLM Permit for South Railroad, First Gold 2028

The Bureau of Land Management issued a positive Record of Decision for Equinox Gold’s South Railroad project in Nevada, clearing the final federal hurdle under the National Environmental Policy Act.

Early works construction has started, and applications for state permits and water rights have been filed. Equinox Gold President Jason Simpson said the decision is “a major milestone” that moves the project toward first gold in 2028.

The open-pit heap leach mine is expected to produce an average 130,000 ounces of gold annually over the first five years, and more than 100,000 ounces a year over the initial 10-year mine life. Initial capital costs are pegged at $395 million, with $70-80 million already reflected in the company’s 2026 guidance.

South Railroad sits within a 25,000-hectare land package on Nevada’s Carlin Trend. Equinox Gold said the project is the first meaningful contributor toward its target of adding 800,000 ounces of annual gold production from its organic development pipeline.

The project was designated a FAST-41 covered project under the administration’s push to speed permitting for domestic mineral development. Simpson thanked the BLM, the Interior Department, and the Permitting Council for their support.

State permits and water rights remain outstanding but have been submitted. Equinox Gold’s board had already approved construction start contingent on the federal Record of Decision.

The company’s EQX stock page carries an Alpha Score of 63 out of 100, labeled Moderate, reflecting the sector’s capital intensity and commodity price dependence. The gold profile shows bullion trading near $2,500 an ounce, a level that supports the project’s economics.

Equinox Gold is a Canadian producer with operations across the Americas. The South Railroad permitting clears one of the biggest uncertainties for the project’s timeline.