Massive BC gold mine approved

Photo: Contributed

The federal government has approved the environmental assessment application for the massive KSM gold and copper mine in northwestern British Columbia near the Alaska border.

The mine, which is owned by Seabridge Gold Inc., is considered the largest undeveloped gold reserve in the world and also has copper, silver and molybdenum deposits.

The project would be just 35 kilometres from the Alaska border, and in August the state took the rare step of asking the Canadian government for involvement in the approval process over concerns for its rivers and fish.

But the Canadian Environmental Assessment Agency concluded in its report that the KSM project isn't likely to cause significant adverse environmental effects.

Seabridge CEO Rudi Fronk says the company was confident it would receive the approval because it has spent six years and $200 million working with government, the state of Alaska, and local First Nations.

Fronk says Seabridge is talking with several major mine companies to find a partner to invest in the project, which will likely cost about $5 billion to build.