Gold Fields heads for Windfall FID in February following new permit

Gold Fields Limited and its wholly owned subsidiary, Windfall Mining Group Inc. have announced that the Ministère de l’Environnement, de la Lutte contre les changements climatiques, de la Protection de la biodiversité, de la Faune et des Parcs has issued the certificate of authorisation required to begin construction of the Windfall mining project, located in Eeyou Istchee Baie-James.

The certificate of authorisation confirms that Windfall has completed the environmental and social impact assessment and review process applicable to the project under Title II of the Environment Quality Act. It provides the authorisation required to begin construction activities, in accordance with the applicable conditions, commitments and regulatory requirements.

In late September, Gold Fields’ Chief Executive Officer, Mike Fraser, told attendees at the Denver Gold Forum that it had halted advanced exploration work at Windfall because a permit allowing bulk-exploration activities had expired.

This latest milestone follows the signing, in June 2026, of the Uukiimau Agreement, an Impact and Benefit Agreement concluded with the Cree First Nation of Waswanipi, the Cree Nation Government and the Grand Council of the Crees. Together, these two achievements establish a strong partnership and regulatory cornerstone for the next phase of the Windfall Project.

Windfall is one of the highest-grade gold projects in Canada and is expected to produce approximately 300,000 oz/y of gold once ramped up, with considerable growth prospects along strike and down plunge, Gold Fields says. Prior to Windfall being taken over by Gold Fields with the acquisition of Osisko Mining in 2024, a technical feasibility study had outlined the potential for the underground mine to use a mix of diesel and electric equipment at the mine.

Obtaining the certificate of authorisation is the culmination of several years of environmental and social studies, technical analyses, dialogue with communities and collaboration with government authorities, Gold Fields says. The process included a review of the project by the Environmental and Social Impact Review Committee (COMEX), including public hearings held in Lebel-sur-Quévillon and Waswanipi in spring 2026.

Fraser says: “Receiving the certificate of authorisation for Windfall is a major milestone for Gold Fields and for one of Canada’s highest-grade development-stage gold projects. The Uukiimau Agreement and the certificate of authorisation demonstrate how responsible mining can be advanced through respect, transparency and shared value creation. Achieving these two important milestones reflects years of environmental and social studies, technical review, engagement with the Cree First Nation and host communities as well as collaboration with government authorities. We thank the Government of Québec, COMEX and the Cree First Nation whose rigorous review and partnership have contributed to this important milestone for the Project.

“We will now focus on finalizing our execution plan and moving Windfall towards construction safely and responsibly, so that it becomes a long-life, low-cost production center that delivers long-term value for the Eeyou Istchee James Bay, Québec and our shareholders.”

With the Uukiimau Agreement signed and the certificate of authorisation obtained, Gold Fields will progress the Final Investment Decision (FID) for the project and expects to publish by February 2027 with its 2026 provisional results.

Remobilisation at Windfall will begin shortly, with site activities, including underground activities expected to resume progressively. With the issue of the certificate of authorisation, the mining lease and secondary permits can now be obtained. The project is expected to create significant employment opportunities, support local and Indigenous businesses, generate lasting economic benefits for Québec and Eeyou Istchee, and contribute to the responsible development of Canada’s mining sector.

Windfall will continue to be developed in accordance with Gold Fields’ standards for environmental performance, safety, transparency and community engagement, it says. These key breakthroughs mark the beginning of a new chapter for Windfall, Gold Fields, its Cree partners and Québec.

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