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December 21, 2014

Seabridge Gold’s $5.3bn Kerr-Sulphurets-Mitchell project gets environmental approval

Seabridge Gold's $5.3bn gold-copper Kerr-Sulphurets-Mitchell (KSM) project in British Columbia (BC) has secured approval from Canada's environment ministry.

Kerr-Sulphurets-Mitchell

Seabridge Gold’s $5.3bn gold-copper Kerr-Sulphurets-Mitchell (KSM) project in British Columbia (BC) has secured approval from Canada’s environment ministry.

The Minister of the Environment, Minister of the Canadian Northern Economic Development Agency and Minister for the Arctic Council Leona Aglukkaq said that the proposed KSM project will not cause adverse environmental effects when the mitigation measures described in the comprehensive study report are taken into account.

The minister considered the comprehensive study report and the comments received from the public, the Nisga’a Nation and other Aboriginal groups, before approving the project.

Seabridge is said to have invested more than $176m for exploration, engineering and environmental work.

The company wants to develop a combined open-pit and underground gold-copper silver and molydenum mine in the Kerr, Sulphurets and Mitchell Creek watersheds, located approximately 65km north-west of Stewart, BC.

"Seabridge is said to have invested more than $176m for exploration, engineering and environmental work."

The project has an anticipated mine life of 52 years and is expected to process 130,000t of ore per day.

During its construction period, which will last for five years, KSM is expected to create 1,800 direct and 4,770 indirect jobs across Canada, as well as 1,040 direct jobs during production.

KSM is 100% owned by Seabridge Gold, with Denver-based Royal Gold owning a 2% net-smelter return royalty on the mine.

Once operational, the project is set to feature three open-pit mines, a processing plant and a tailings facility.

Assessed using a science-based approach, the project was subject to requirements under the NFA, a treaty signed by the governments of Canada, BC and the Nisga’a Nation.


Image: The KSM project is 100% owned by Seabridge Gold. Photo: courtesy of Grmike.

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