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Seabridge Gold Enters into Agreement with BC Hydro to Supply Green, Low-Cost Construction Power to KSM Project
Toronto, Ontario--(Newsfile Corp. - March 1, 2022) - Seabridge Gold's (TSX: SEA) (NYSE: ...
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[{"type":"text","content":"Seabridge Gold Enters into Agreement with BC Hydro to Supply Green, Low-Cost Construction Power to KSM ProjectToronto, Ontario--(Newsfile Corp. - March 1, 2022) - Seabridge Gold's (TSX: SEA) (NYSE: SA) wholly owned subsidiary, KSM Mining ULC (\"KSM Mining\"), has signed a Facilities Agreement (the \"Agreement\") with British Columbia Hydro and Power Authority (\"BC Hydro\") covering the design and construction of facilities by BC Hydro to supply construction phase hydro-sourced electricity to the KSM project. KSM will connect to BC Hydro's existing Northwest Transmission Line (\"NTL\") at BC Hydro's Treaty Creek Switching Station (\"TCT\"). This TCT, located where KSM's Treaty Creek access road meets Highway 37, south of Bell 2, is scheduled to be completed before the end of 2024. KSM Mining has completed its design for a 30 km long 287 KV transmission line to interconnect the TCT and the KSM plant site. This KSM transmission line is scheduled to be constructed in 2023 with completion and commissioning planned for late 2024 to be ready for connection to the TCT.Previous studies at KSM originally incorporated diesel power for construction activities, with hydro power to be supplied later from BC Hydro's NTL for operations. Connecting to BC Hydro's NTL earlier than previously planned provides a number of significant ESG and economic advantages including: green hydro power will replace significant diesel generation over the multi-year construction phase, with a corresponding large reduction in greenhouse gas emissions; Hydro power is less than 25 percent of the cost of diesel-generated power with consequent capital and operating cost savings;the TCT and transmission line will eventually be required for operations and moving this infrastructure forward in the project schedule de-risks construction; andthe installation is part of our work towards \"Substantially Started\". Achieving substantially started designation will ensure that KSM's Environmental Assessment Certificate remains in place for the life of the project.Seabridge Chairman and CEO Rudi Fronk stated, \"We are delighted to take our relationship with BC Hydro to the next level. Having access to low-cost hydro power is one of many logistical advantages KSM enjoys compared to other large undeveloped gold and copper projects around the world. The recently announced US$225 mi...