BC approves early construction works on Artemis Gold's Blackwater project
(Kitco News) - The Province of British Columbia and Artemis Gold (TSX-V: ARTG) today announced the approval of Mines Act Permit M-246 allowing for early construction works at the company's Blackwater gold project in Central British Columbia.
According to a press-release, the approval of the early works permit is the first step required for mine construction, allowing for the necessary site preparation and land clearing work to begin.
"Advancing the Blackwater gold project from exploration to early work will help unearth the massive economic potential in B.C.'s Cariboo region," said Premier John Horgan. "Mining and mineral exploration is a foundational part of B.C.'s economy and key to building a stronger and more sustainable British Columbia – one where everyone shares in our prosperity."
The Blackwater mine is estimated to be the largest gold mine development project in the Cariboo region of B.C. in the last decade, supporting regional employment over 25 years, including the construction period, with the potential for that to be extended through further exploration.
Blackwater is to be connected to the BC Hydro grid, which is powered by hydro-electricity providing it with a sustainable source of low-carbon power, with the potential to produce gold and silver with one of the lowest GHG emissions from an open pit in the world.
Artemis anticipates the project will create 457 direct full-time jobs per year over the 23-year operating life of the mine, with 825 direct full-time jobs per year created during the construction/expansion phases of mine development. Additionally, the mine is expected to contribute $13.2 billion to the provincial economy, over the life of the mine, including $2.3 billion to provincial revenues.