“KSM is the largest undeveloped gold-copper project in the world by resources,” Brent Murphy, Seabridge’s senior vice president of environmental affairs, told BIV News.
Seabridge has already spent C$480 million to move the KSM project through exploration, engineering and environmental permitting.
Earlier this year, Seabridge raised C$285 million through Sprott Resource Streaming and Royalty Corp. and the Ontario Teachers’ Pension Plan, and signed a power agreement with BC Hydro to supply the new mine with power.
Work is now underway to build a power substation that will provide the mine site with up to 250 megawatts of power from the Northwest Transmission Line. Construction of a new power transmission line to tie into the Northwest Transmission line is expected to begin next year.
Seabridge plans to spend C$150 million this year on infrastructure needed to prepare the new mine for development, and as much again next…
