Construction is now officially underway at the Greenstone Mine, just south of Geraldton, Ont.

The sod turning for the long-awaited mine was on Wednesday afternoon, 14 years after the creation of a new gold mine was floated as being a possibility.

The mine is said to be "in the shadow of the headframe" of a number of former operating gold mines, which last shuttered in the 1970s.

"This announcement to me, is one of the biggest achievements that this municipality could see," said Greenstone Mayor Renald Beaulieu.

"I think we should be so proud to work with the company, move forward, and help make things happen."

Construction of the mine will create about 2,100 jobs, while the mine's operations will create 500 positions. The mine life of the project is slated to be at least 14 years, and will cost $1.53 billion to build over two years.

"At the end of the day, it's one thing to have a mine, but there is one thing. Money has to be made. There's gotta be a profit here," said Beaulieu. "And, you know what, it's not a sin to say that there's a profit in the mine. Let's encourage it, because if you encourage it, you will see prosperity in your community."

Greenstone Mine, owned by Equinox Gold Corp. and Orion Mine Finance Group is slated to be one of Canada's largest gold mines, the company said, producing more than 400,000 ounces of gold a year during its first four years of operation. The mine will then produce an additional five million ounces of gold over its initial 14-year mine life.

The size of the open pit itself is slated to be 1.8 kilometres by one kilometre, with a depth of 600 meters.

The company has operating agreements with a number of area First Nations, including Long Lake 58, Ginoogaming, Aroland, Animbiigoo Zaagi'igan Anishinaabek, and the Métis Nation of Ontario.

"This mine is creating a generational opportunity for our people to access good jobs, close to our First Nations," said Dorothy Towedo, the Chief of Aroland First Nation.

"Our people will be able to live and work in their homelands, close to their families."

Towedo, along with other First Nation chiefs at the ceremony, made reference to the mine being a steward of the land, ensuring it protects water and other natural resources.

The mine will relocate tailings from a former tailings site for the McLeod-Mosher and Hardrock Mine. The movement of the tailings is slated to actually improve water quality in neighbouring Kenogamisis Lake, and reduce the amount of arsenic in Barton Bay and the Central Basin.

The project will also require the relocation of Highway 11, the demolition of the Macleod neighbourhood in Geraldton, and the relocation of the Hydro One substation. Numerous other pieces of infrastructure, including a power plant will be built on site.