Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Seabridge Gold (TSE: SEA) expects to receive the “substantial start’ designation under British Columbia laws for permits allowing KSM, the world’s largest undeveloped gold project, CEO Rudi Fronk said in an interview.
The company applied for the designation for the Golden Triangle project, which includes silver and copper, early this year. It would lock in construction permits for the project’s lifetime instead of expiring in 2026. With environmental permits in place, Seabridge has already invested around C$500 million in early construction and is seeking a deep-pocketed partner.
“Getting that designation is crucial,” Fronk said last week at the Rule Symposium in Boca Raton, Florida. “We expect to have it by September.”
Seabridge is pushing exploration at the nearby Iskut property with a C$12 million budget and is spending half that to probe on the Three Aces project in the Yukon Territory.
Watch the full interview with The Northern Miner’s western editor, Henry Lazenby:
Comments
Guy T Archibald
“Of the 32 physical components identified in the CPD, KSMCo has completed construction of one permanent component – the access road to the processing and tailings management area” See: KSM – EAOs Analysis of Substantial Started Determination Report_20240625 .