Seabridge Gold Inc. announced on November 25, 2024, that the Tsetsaut Skii km Lax Ha (TSKLH) Indigenous group filed a Petition in the British Columbia Supreme Court. The petition seeks judicial review of the determination by the Chief Executive Assessment Officer of the British Columbia Environmental Assessment Office (EAO) that Seabridge's KSM Project has been 'substantially started'.
The TSKLH group alleges that the Province failed to fulfill its duty to consult them regarding the 'Substantially Started' (SS) Determination and that the process lacked procedural fairness. The SS Determination, granted on July 25, 2024, ensures that the KSM project's Environmental Assessment Certificate (EAC) is no longer subject to expiry, with its original deadline being July 29, 2026.
Seabridge stated that it had completed or initiated construction of 94 out of 336 components of the KSM Project and had spent $444 million on these activities. The company plans to participate in defending the validity of the SS Determination, which remains in place while the legal process unfolds, with a final decision potentially taking a year or more.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.