The Bureau of Land Management (BLM) has signed off on the Grassy Mountain gold and silver mine on 469 public acres, the agency announced on Thursday.
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“Responsible mineral development is a key part of BLM’s efforts to unleash America’s affordable and reliable natural resources while ensuring natural, cultural, and historic resources are maintained for present and future use,” said Acting Vale District Manager Cassandra Andrews-Fleckenstein.
Officials say the mine is expected to produce an average of 47,000 ounces of gold, and 55,000 ounces of silver each year.
The mine will create about 200 jobs and bring $140 million in economic activity to eastern Oregon and will account for $9 million in new tax revenue each year.
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“Paramount Gold Nevada maydevelop an underground mine, dedicatedmill, associated storage, and some existing roads will be upgraded to access the operation,” BLM said in a press release. “Construction and processing will occur over 10 years followed by four years of reclamation and 20 years of monitoring.”