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  • September 23, 2026
  • Industry News
Osisko greenlights Cariboo gold project in BC

An Osisko Gold worker on the Cariboo property in British Columbia.

Canadian developer Osisko Gold Group (TSX-V, NYSE: OGG) is going ahead with construction of the $841 million Cariboo underground mine in central British Columbia, targeting a first gold pour in early 2029.

Cariboo, which was about 22% complete as of the end of July, carries about $990 million in future capital obligations, Osisko said Monday in a statement. Commercial production is expected to be reached in the second half of 2029, following a 30-month construction period.

Osisko’s final investment decision “formally transitions Cariboo from development to active construction, representing a key de-risking milestone,” RBC Capital Markets mining analyst Harrison Reynolds said Monday in a note.

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