Seabridge Gold receives substantially started designation from BC Government
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
Seabridge Gold has announced that its wholly owned subsidiary, KSM Mining ULC, has received its “substantially started” designation from the British Columbia Government for its 100% owned KSM Project.
This designation affirms the validity of the B.C. Environmental Assessment Certificate (EAC) for the life of the KSM Project.
Under the B.C. Environmental Assessment Act, a project’s EAC expires if the project has not been substantially started by the deadline specified in its EAC. However, the B.C. Minister of Environment and Climate Change Strategy may determine that a project has been ‘substantially started’ before the deadline, in which case the EAC is no longer subject to expiry. KSM’s EAC deadline was 29 July 2026. KSM Co. has spent over CAN$1 billion since acquiring the KSM Project in 2001, of which in excess of CAN$800 million has been spent to advance the project after the issuance of the EAC in July 2014.
Seabridge Chairman and CEO Rudi Fronk stated: “This is a significant regulatory milestone for the KSM Project, positioning it to become a multigenerational economic anchor for northwestern BC. We thank the Government of British Columbia, and especially the Environmental Assessment Office, for their recognition of the significant work already completed at KSM. This decision reaffirms BC’s support of responsible mining projects and the development of a stronger critical mineral supply chain needed for effective climate action. KSM’s large copper reserve can contribute to meeting North America’s technology, defence, and security objectives while the project can also promote the economic wellbeing of our Indigenous partners. We greatly appreciate the support that we received from the Nisga’a and Tahltan Nations, the Gitxsan Hereditary Chiefs Office, the Village of Hazelton, the District of New Hazelton, the Town of Smithers, the District of Stewart, the City of Terrace, the Regional District of Kitimat-Stikine, B.C. Hydro and the Mining Association of British Columbia.”
Mr. Fronk concluded: “This decision provides the regulatory assurance we have needed to move forward with joint venture discussions for the KSM Project.”
Read the article online at: https://www.globalminingreview.com/mining/01082024/seabridge-gold-receives-substantially-started-designation-from-bc-government/
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