Seabridge Gold’s KSM Mine Proposal Poses Significant Risks

KSM project questioned as operational, legal, and political challenges mount

November 12, 2014

WASHINGTON, DC—A report released today identifies significant risks associated with the Kerr-Sulphurets-Mitchell (KSM) mine proposed by Seabridge Gold in northwest British Columbia near the border with Alaska and upstream of Misty Fjords National Monument. It details a growing list of operational, legal, economic and political challenges facing the controversial project, which some analysts have compared to the proposed Pebble Mine in southwest Alaska.

KSM is a copper, gold, silver and molybdenum mine proposed by Toronto based Seabridge Gold (TSXSEA) (NYSE:SA), a junior mining company, which holds a 100% interest in the project.

Five key risks outlined in the report include:

“The amount of water projected for water treatment is the largest of any mine that I have seen,” said David Chambers, Ph.D., Professional Geophysicist. “Based on the estimated treatment costs in the EIS, the trust fund for post-closure water treatment alone would need to be approximately $1 billion.”

The report is authored by Salmon Beyond Borders, a coalition of Alaska Native tribal members and commercial, sport and subsistence fishermen, and other groups including Earthworks.

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Tagged with: misty fjords, mining, ksm, canada, alaska

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