Seabridge Gold, through its subsidiary KSM Mining, has applied for Substantially Started Status for its KSM Project with the British Columbia Environment Assessment Office (BC EAO).

This status is crucial for the project’s EAC to remain valid beyond the current deadline of 29 July 2026.

The British Columbia Minister of Environment and Climate Change Strategy, or the Associate Deputy Minister, has the authority to declare a project ‘substantially started’.

Awarding of the ‘substantially started’ status depends on the extent of permanent physical improvements made on-site.

Previous projects such as Galore Creek, Kemess, and Kitsault have achieved this designation.

Since the acquisition of the KSM Project in 2001, KSM has invested more than C$997m ($738m), with C$805m spent post-EAC issuance in July 2014.

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Notably, C$444m has been allocated to construction since 2021, focusing on essential infrastructure for the future multi-generational mine.

The KSM Project is recognised for having the third-largest undeveloped copper resource globally and the largest gold resource.

Copper’s critical status in BC and Canada’s green transition underscores KSM’s potential significant contribution to this sector.

Seabridge chairman and CEO Rudi Fronk said: “We look forward to working with the BC EAO and First Nations on the review of our application. The permanent physical improvements we have made to the KSM site are truly impressive.

“Since launching our early construction program three years ago, a proposed mine development that only existed on paper is now taking physical shape on the ground with roads and bridges, permanent living facilities for our personnel, hydroelectric power infrastructure and new fish habitat compensation projects.

“This rapid transformation could not have been accomplished without our local workforce, contractors and indigenous partners, which has met and exceeded our expectations.

“Additionally, this work would not have been possible without the financial support of Sprott Resource Streaming and Royalty Corp. and Ontario Teachers’ Pension Plan, who collectively provided $375m in funding for these activities.”