Impact: Positive
Seabridge announced that it has applied to the BC Environmental Assessment Office for Substantially Started status for its 100%-owned KSM project in the Golden Triangle of BC. The Substantially Started status would allow KSM’s current environmental assessment certificate (EAC) to remain in effect for the life of the project, which otherwise would expire on July 29th, 2026. Management noted that letters of support for the project from a bevy of local and regional stakeholders, including: the Nisga’a Nation, the Gitxsan Hereditary Chiefs office, BC Hydro and the municipal leaders of Terrace, Smithers, Stewart, Hazelton, and the Regional District of Kitimat Stikine have been filed with Seabridge’s application. Seabridge has invested ~C$450M since 2021 to complete work on power, roads, fish habitat, bridges, and a camp. We believe this is a key milestone for the company and that the status would help de-risk the project and thereby support Seabridge’s efforts to attract a potential JV partner.
