IDM’s Red Mountain referred to provincial Ministers for decision
Vancouver-based IDM Mining is one step closer to building British Columbia’s next underground gold mine, with the Environmental Assessment Office having referred the Red Mountain project’s environmental certificate application to provincial Ministers for a decision.
The Minister of Environment and Climate Change Strategy and the Minister of Energy, Mines and Petroleum Resources have up to 45 days to announce a decision on the project.
The Red Mountain proposal is also subject to a federal environmental assessment process, which is nearly two-thirds through the 365-day timeline.
IDM expects to receive federal approval in late 2018 or early 2019, the company stated on Wednesday.
“Our vision for British Columbia’s next high-grade bulk underground gold mine is another step closer. We believe that the proposed low-footprint Red Mountain operation will have obvious benefits to my hometown of Stewart, to Nisga’a citizens and to residents throughout north-western British Columbia,” commented IDM president and CEO Robert McLeod.
IDM is completing an updated feasibility study, which will incorporate value engineering improvements from the 2017 study and the increased measured and indicated resources from the June 2018 resource estimate.
The 2017 study demonstrated high-margin, low-capital underground gold mine with a short development timeline, producing 91 000 oz/y of gold over the first two years of operation, with a life-of-mine average output of 78 000 oz. The proposed mine will have a 1 000 t/d mill operating year-round over an initial period of about six years. The mine will produce 425 000 oz of gold and 1.17-million ounces of silver.
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