British Columbia gold miners to resume projects following wildfire
Both Artemis Gold and Osisko confirmed on Friday that the province's evacuation order has been lifted for the region.
Mining activities affected by the wildfire in central British Columbia are set to resume after the provincial government lifted its evacuation order in certain areas.
On July 22, the BC Wildfire Service issued an evacuation order in the central BC region that included Artemis Gold’s (TSXV: ARTG) Blackwater mine and the Cariboo gold project held by Osisko Development (NYSE: ODV, TSXV: ODV).
Both companies confirmed on Friday that the order has since been lifted, and normal activities will resume following the return of non-essential employees to their respective sites.
The Blackwater mine, located approximately 160 km southwest of Prince George, is currently on track for production in the second half of this year. Construction of the mine, along with a 6-million-tonne-a-year processing facility, is near completion.
The Cariboo project, about 74 km east of Quesnel, is in the pre-construction stage with its permits pending. The underground mine is expected to operate for 12 years, during which about 1.8 million oz. of gold will be produced.
The mine site infrastructures were unaffected by the wildfires, and all access roads to both projects are accessible, the companies said.
Artemis Gold’s stock traded up 3.6% to C$11.37 apiece by 11:25 a.m. ET, with a market capitalization of C$2.3 billion. Osisko Development also rose 2.8% to C$2.94, capitalizing the company at C$250.1 million.