(Kitco News) - Gold miner St Barbara (ASX: SBM) announced today that the company's application to the Impact Assessment Agency of Canada (IAAC) for both Beaver Dam and Fifteen Mile Stream projects to remain under the Federal Canadian Environmental Assessment Act 2012 (CEAA 2012) process has been approved.
The company said that this positive outcome removes the risk to these projects being materially delayed had the permitting process had to restart under the new Impact Assessment Act 2019.
According to a press-release, IAAC's determination to remain under CEAA 2012 noted that the Environmental Assessment for both projects are well advanced and meet the criteria for the process.
The company pointed out that as a result, Beaver Dam remains on track for first ore to be delivered prior to the completion of stockpile processing at Touquoy in December 2024, adding that a further update on Fifteen Mile Stream will be provided in the second quarter of this financial year.
Managing Director and CEO Craig Jetson stated, "Today's positive outcome with the Canadian Federal Government builds on the successful permits from the Nova Scotia Government for the clay cut back and tailings lift permit. We now have greater certainty for both projects and this demonstrates that the Federal Canadian Government and Nova Scotian Government permitting processes are robust and functional.
"We will continue to progress the development of Beaver Dam and Fifteen Mile Stream and I look forward to updating the market in the future on these growth projects."
St Barbara's assets include Leonora Operations in Western Australia, Atlantic Operations in Nova Scotia, Canada and Simberi Operations in Papua New Guinea.
The company's Atlantic Operations in Nova Scotia, Canada consist of the open pit Touquoy mine, along with three additional planned projects nearby at Beaver Dam, Fifteen Mile Stream and Cochrane Hill. Collectively, the operations and projects have an estimated mine life to 2030, with strong exploration potential in the region.
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