PERTH, 7 August 2026 – Lycopodium Limited (ASX: LYL), a global leader in integrated engineering, project, construction and asset management, has been awarded the Engineering, Procurement and Construction Management (EPCM) contract for Artemis Gold’s Expanded Phase 2 (EP2) Project at the Blackwater Mine in Canada. The company specialises in providing integrated engineering, project, construction, and asset management solutions, delivering complex, multidisciplinary projects and advisory services across the resources, rail infrastructure, and industrial processes industries. This EPCM contract is valued at approximately A$93 million, calculated at an exchange rate of A$1 AUD = 0.985 CAD, and is included within Artemis Gold’s overall EP2 budget.
The Blackwater Mine, an open-pit truck and shovel gold and silver operation, is situated in central British Columbia, approximately 160 kilometres southwest of Prince George. Commercial production at the mine commenced in May 2025. Following the conclusion of its multi-phase expansion program, the mine is anticipated to achieve a total production capacity of 21 million tonnes per annum (Mtpa), positioning it as one of Canada’s three largest gold mines. The EP2 project itself is projected to add 13 Mtpa of throughput capacity, which, combined with the Phase 1A project’s 8 Mtpa, will raise the total throughput capacity of the Blackwater Mine to 21 Mtpa.
Lycopodium has a significant history of involvement with the Blackwater development. The firm previously provided EPCM services for the delivery of Phase 1A and contributed to the earlier stages of EP2 development by preparing the Feasibility Study and providing Front End Engineering and Design (FEED) services for the new plant. Early works construction activities for EP2 are already well underway, including earthworks for the new plant site. Artemis Gold recently announced that major works construction has commenced, with the first concrete pour for the ball mill foundations completed ahead of schedule. Peter De Leo, Lycopodium’s Managing Director and CEO, noted, “We are very pleased to be given this opportunity to continue to work with Artemis Gold in the further development of the Blackwater Mine. Blackwater is a world-class facility in a tier-one mining jurisdiction, and our involvement in the mine’s expansion is particularly meaningful, given it represents a material domestic project to be delivered by our Canadian-based business.”
