Artemis Gold (CSV: ARTG) opened Canada’s newest gold and silver mine in an official ceremony.
Announced on Monday, David Eby, the Premier of British Columbia joined ministers and chiefs from associated First nations at the Blackwater Mine for the opening.
The Blackwater Mine reached commercial production in record time. It completed construction in 22 months. The company secured its BC Mines Act permit in March 2023. Further, by January 2025, it had completed construction and poured its first gold.
Earlier this month, the company also confirmed the mine had achieved commercial production. Forecasts for the 2025 financial year estimate gold output between 190,000 and 230,000 ounces.
So far, workers have logged more than 5.3 million hours on site with no lost time incidents.
This timeline reflects efficient planning and also a strong commitment to safety and execution.
“The safety record at Blackwater Mine is an exceptional achievement and a leading statistic globally. This result is a real credit to the leadership team that built Blackwater,” said Jeremy Langford, President and Chief Operating Officer, Artemis Gold.
Artemis Gold is based in Vancouver owns 100 per cent of the Blackwater Mine. Its largest shareholders are British Columbians.
The mine sits 110 kilometres southwest of Vanderhoof and 160 kilometres southwest of Prince George, B.C.
In addition, the mine will support regional jobs for decades. Ongoing exploration could also extend its life even further.
Blackwater operates as an open-pit, truck-and-shovel gold and silver mine. It holds total measured and indicated resources of 11.7 million ounces of gold and 122.4 million ounces of silver.
Read more: Calibre Mining reports solid Q1 results; receives court approval for Equinox Gold merger
Read more: Calibre securityholders give assent for Equinox Gold merger
Blackwater Mine to be developed in three phases
The Blackwater Mine currently employs over 400 people and of those, 25 per cent identify as Indigenous. In addition, 40 per cent are from the surrounding region, and 80 per cent are based in B.C. As a result, Artemis Gold continues to build strong ties with local and Indigenous communities.
The mine will be developed in three phases with phase 1 construction finished earlier this year. Consequently, the company is now considering whether to accelerate Phase 2.
If approved, Phase 2 would create 800 new construction jobs. It would also add 170 operations jobs after construction ends. This expansion would further strengthen the region’s workforce and long-term economic outlook.
Since 2022, Artemis has spent approximately CAD$1 billion with Canadian contractors and service providers to build the mine. Further, more than CAD$300 million went to local and Indigenous businesses.
This investment supports communities affected by recent forestry mill closures and curtailments.
“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,” said Premier David Eby.
KPMG completed an economic impact study on the Blackwater Project in November 2020.
Commodity prices were significantly lower then and the report projected the mine would contribute CAD$13.2 billion to the provincial economy over its life.
Specifically, the study estimated CAD$2.3 billion in provincial revenues and CAD$1.5 billion in federal tax revenues. Since then, gold and silver prices have risen substantially. As a result, the mine will likely exceed those original projections.
Read more: Calibre Mining understands the balance between economic performance and sustainability
Read more: Calibre Mining shareholders can get 4% higher stake once Equinox Gold merger is finalized
Artemis Gold collaborated federal and provincial governments
Artemis Gold received project approval after committing to some of the industry’s highest environmental standards. The company will manage the mine using globally recognized best practices.
In line with this commitment, Artemis continues to identify ways to reduce its impact on surrounding ecosystems. In 2023, the company completed a new transmission line to power the mine.
This line connects the site to BC Hydro’s renewable hydroelectricity via the Glenannan substation near Endako, B.C. Therefore, Blackwater Mine benefits from clean energy while reducing its carbon footprint.
Artemis Gold invested in a fully electrified processing facility, replacing all traditionally carbon-fuelled systems with electric equipment. Although this increased the facility’s construction cost, it significantly lowers the mine’s carbon footprint.
As a result, this investment positions Blackwater to become one of the world’s lowest greenhouse gas–emitting open-pit mining operations. Furthermore, the company aims to reduce emissions even more by integrating zero-emission ore and waste haulage by 2030.
In addition, Artemis Gold collaborated closely with federal and provincial governments during the permitting process. The company also partnered with Lhoosk’uz Dené, Ulkatcho, Nadleh Whut’en, Saik’uz, Stellat’en, and Nazko First Nations.
Together, they developed innovative, precedent-setting environmental management plans. These include strategies for offsetting impacts on caribou and fish habitats, wetlands, and other sensitive ecosystems.
Moreover, Artemis received strong support from the District of Vanderhoof and nearby communities. Their input has helped shape the project into a model for environmentally and socially responsible mining in British Columbia.
.
