Mining
Wednesday, October 11th, 2023 2:17 pm EDT
Key Points
- The Cariboo Gold mine project near Wells, British Columbia, has received an environmental certificate, becoming the first project approved under the updated Environmental Assessment Act of 2018.
- The project, led by Osisko Development, involves an initial capital cost of C$137 million for Phase 1, with an estimated total capital expenditure of C$1 billion over the mine’s life. It is expected to create 500 permanent jobs and sustain an annual payroll of C$53 million. The decision comes with 22 conditions aimed at minimizing local impacts, mitigating environmental concerns, and addressing community needs. The mine aims for first production in 2024.
A new underground gold mine near Wells, British Columbia, has received an environmental certificate from provincial ministers of Environment and Energy, Mines, and Low Carbon Innovation. The Cariboo Gold mine project is the first to be approved under the updated Environmental Assessment Act in 2018. The project, led by Osisko Development, is estimated to cost C$1 billion over its life, with an initial capital cost of C$137 million for Phase 1. The mine is expected to provide 500 permanent jobs and a C$53 million annual payroll, with a 200-person mining camp to be developed on-site. The certificate includes 22 conditions to minimize environmental impacts, address community concerns, and support local economic development. While there were concerns raised by local residents and First Nations, the project received consent from Lhtako Dené Nation and Williams Lake First Nation. Xatśūll First Nation initially did not provide consent but later indicated they did not oppose the project after discussions with the ministers. The mine aims to begin production in 2024.
For full original article, please click here: https://www.mining.com/cariboo-gold-project-in-british-columbia-gets-green-lighted/
