New Gold is targeting 2028 as a potential end to mining at its Rainy River Mine.
The company has released a new mine plan aimed at maximizing profitability in a shorter period of time.
Company Vice-President and General Manager Eric Vinet says it includes working within a smaller pit to reduce costs.
New Gold will also start underground mining in 2022 by creating portals within the open pit.
Vinet adds they will operate out of a smaller pit, mining less rock waste and focus attention on mid-and-high grade gold.
Although the move may seem like a setback, New Gold President Renaud Adams expects to see improvements as early as this year.
Adams notes it provides a profitable path moving forward.
