Artemis Gold Inc. (TSX-V: ARTG) is collaborating with Canada’s federal government, British Columbia’s provincial government and local First Nations groups to establish a substantial land package dedicated to caribou preservation near its Blackwater Mine.
On Thursday, the company announced the establishment of the Caribou Mitigation and Monitoring Plan in the Tweedsmuir caribou range located directly west of the region’s largest gold project.
Through the partnership with the Lhoosk’uz Dené Nation, the Ulkatcho First Nation and the government — the new plan will secure 11,000 hectares of land for Caribou habitat preservation for the next 50 years.
A mining company working in partnership with First Nations and the provincial government to protect critical caribou habitat? Yeah – it’s happening.@ArtemisGoldInc, Lhoosk’uz Dene & Ulkatcho First Nations & BC protecting 11,000 ha together. #bcpolihttps://t.co/oo8pIx6jI9
— Nathan Cullen (@nathancullen) April 20, 2023
New partnership is first of its kind
Artemis plans to contribute more than $2.7 million to caribou habitat restoration initiatives that will be led by the First Nations groups as part of the plan. The company will not be exploring or developing its mineral tenures in the land package.
“This initiative combines Indigenous traditional knowledge with industry resources to secure and steward 11,000 hectares of land together with funding for caribou habitat and restoration programs,” said Josie Osborne — Minister of Energy, Mines and Low Carbon Innovation.
According to Artemis, this marks the first-ever instance where a business, government entities and First Nations have worked in tandem to acquire mineral rights for caribou offsetting purposes, resulting in the creation of the plan.
Furthermore, this is the first occasion in which a decree issued in accordance with the Environment and Land Use Act has been employed to guarantee the safeguarding and upkeep of caribou habitats through the procurement of mineral tenures.
“Artemis Gold’s decision to defer development in 11,000 hectares of critical habitat is a good example of what can be achieved when these partners work together in a respectful way that benefits both ecosystem health, caribou recovery and economic activity,” said Nathan Cullen, Minister of Water, Land and Resource Stewardship and Member of the Legislative Assembly for Stikine, B.C.
Artemis acquired its final necessary permit for the Blackwater Mine at the beginning of March and has since made considerable progress with the site’s construction.
The company expects to have its initial gold pour there by June next year and anticipates that Blackwater will create 825 jobs per year during its upcoming construction and expansion phases. The mine is expected to have a 22-year life span and contribute $13.2 billion to the province’s economy.
Ximen Mining Corp. (TSX-V: XIM) (FRA: 1XMA) (OTCQB: XXMMF) also acquired the final necessary permit for its new operations at Nelson B.C.’s Kenville gold project this week, one of the province’s oldest gold mines.
Artemis shares rose by 0.87 per cent on Friday to $4.66 on the TSX Venture Exchange.