Seabridge Gold Receives Substantially Started Designation for Its KSM Mine from BC Government
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Seabridge Gold has received its “substantially started” designation from the BC Government for its 100 percent owned KSM Project. This designation affirms the validity of the BC environmental assessment certificate (EAC) for the life of the KSM Project.
“This is a significant regulatory milestone for the KSM Project, positioning it to become a multi-generational 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,” said Seabridge Chairman and CEO Rudi Fronk.
“KSM’s large copper reserve can contribute to meeting North America’s technology, defense, and security objectives while the project can also promote the economic wellbeing of our Indigenous partners. We greatly appreciate the support 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,” added Fronk.
“This decision provides the regulatory assurance we have needed to move forward with joint venture discussions for the KSM Project,” concluded Fronk.
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 July 29, 2026. The company has spent more than $1 billion since acquiring the KSM Project in 2001, of which in excess of $800 million has been spent to advance the project after the issuance of the EAC in July 2014.
Seabridge Gold holds a 100 percent interest in several North American gold projects. Seabridge’s assets include the KSM and Iskut projects located near Stewart, British Columbia, Canada, the Courageous Lake project located in Canada’s Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada, and the 3 Aces project set in the Yukon Territory.
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