Vancouver-based Artemis Gold (TSXV: ARTG) announced that Blackwater Mine officially opened in a ceremony at the mine site. The mining operation represents Canada’s newest gold and silver mine.
B.C. Premier David Eby, along with Jagrup Brar, Minister of Mining and Critical Minerals, Acting Chief June Baptiste of the Lhoosk’uz Dené Nation, and Chief Charlie Williams (represented) of Ulkatcho First Nation, attended the event. Other attendees included representatives of Indigenous and municipal governments, industry associations, business partners, contractors and other stakeholders.
British Columbia Premier David Eby stated: “Blackwater Mine is an example of what can be achieved through collaboration with First Nations and the protection of vital lands and waters. This mine is a part of what we’re building in B.C. the economic engine of the new Canadian economy. It creates hundreds of family-supporting jobs and builds prosperity here and across the country.”
Steven Dean, chairman and CEO of Artemis Gold, commented: “Today marks the official opening of Blackwater Mine after an industry leading 22 months of construction and 3 months of commissioning, a phenomenal achievement in our industry. I couldn’t be more proud of our team for achieving this milestone. On behalf of the Board of Directors, I would also like to thank the federal and provincial government, the Lhoosk’uz Dené, Ulkatcho, Nadleh Whut’en, Saik’uz, Stellat’en and Nazko First Nations, along with the communities across the mine region, and our contractors and business partners for their support in helping us get to this point. What we have achieved together is a model for the sustainable and responsible development of mines in first world jurisdictions, like Canada.”
June Baptiste, acting chief of Lhoosk’uz Dené Nation, said: “Lhooskuz Dené Nation is pleased to be part of this opening ceremony in our traditional territory. The development of the Blackwater project will provide long term employment for our members and economic opportunities for Nation. We remain committed to achieving the highest standard of environmental practice at all stages of development, along with Artemis and Ulkatcho First Nation.”
Blackwater Mine achieved commercial production earlier this month after the company completed construction and poured its first gold in January of this year. Artemis Gold built the mine in an industry-leading 22 months and received a BC Mines Act permit in March 2023. The forecast production for the financial year 2025 is between 190,000-230,000 ounces of gold. Workers logged over 5.3 million hours at Blackwater Mine without any lost time incidents (LTIs).
Located 110 km southwest of Vanderhoof and 160 km southwest of Prince George, B.C., the mine represents the largest resource development project in the Cariboo region of B.C. in over a decade. It will support regional employment for multiple decades and has the potential for extension through further exploration. Blackwater Mine operates as an open-pit truck and shovel gold and silver mine, containing total M&I resources of 11.7 million ounces of gold and 122.4 million ounces of silver.
The mine currently employs over 400 people, with 25% identifying as Indigenous, 40% coming from the mine region, and 80% residing in B.C. Developers plan to complete the project in three phases. They finished phase 1 earlier this year and will decide later this year whether to accelerate phase 2 expansion. This phase will create an additional 800 construction jobs and 170 operations jobs once completed.
Since 2022, the company’s cash spend with Canadian contractors and service providers to build Blackwater Mine was approximately C$1 billion, with over C$700 million of that amount spent in B.C. and over C$300 million with local and Indigenous companies, in a region that has seen devastating closures and curtailments in the forestry industry.
In November 2020, KPMG completed an economic impact study on the Blackwater project, which indicated that at full build-out, the mine will contribute C$13.2 billion to the provincial economy over its lifespan. This includes C$2.3 billion in provincial revenues and C$1.5 billion in federal tax revenues. Since gold and silver prices have increased since the study, these figures are likely to surpass the original estimates.
Artemis Gold has invested in a fully electrified processing facility, replacing all traditionally carbon-fueled processes with electric equipment. This investment increases the cost of the processing facility but significantly reduces the mine’s carbon footprint. By doing so, the company lays the foundation for Blackwater Mine to operate as one of the world’s lowest greenhouse gas-emitting open-pit mining operations. Additionally, Artemis Gold plans to further cut the mine’s footprint by integrating zero-emission ore and waste haulage options by 2030.
As part of the permitting process, Artemis Gold collaborated with the federal and provincial governments, Lhoosk’uz Dené, Ulkatcho, Nadleh Whut’en, Saik’uz, Stellat’en and Nazko First Nations on the development of innovative and precedent-setting environmental management plans related to caribou habitat offsetting, fish habitat offsetting, wetlands offsetting and conservation and enhancement activities. The company has also received significant support and input from the District of Vanderhoof and other local communities in the project area.
For more information visit www.ArtemisGoldinc.com.
