The move is part of the government's increasing efforts to clamp down on damage caused by the mining industry in the nation, the world's top nickel ore supplier.
The company produced 49,874 ounces of gold in the nine months to September, or 7.8% less than in the same quarter last year. It also cut its 2016 production target.
Investors have seen a rise in the market capitalization of top junior mining companies on the TSX Venture Exchange by more than 100% compared to last year.
Report: Lifting of sanctions will spark double digit copper output growth in Iran, home to world's second largest copper mine and largest zinc reserves.
Seabridge Gold is building a 2.1km adit for underground exploration at its 100%-owned KSM property, the world's largest gold-copper project by reserves.
