Eskay Creek site. Credit: Skeena Resources
Skeena Resources (TSX: SKE; NYSE: SKE) has published its inaugural environmental, social and governance (ESG) report for the 2021 year. The report provides shareholders and stakeholders with a thorough overview of the company’s ESG practices, commitments and performance.
The following items were highlighted in the report:
Skeena’s Eskay Creek revitalization project will be the first example of a First Nations consent process with our Tahltan partners under British Columbia’s Declaration on the Rights of Indigenous Peoples Act.Investment of C$122 million from the company into the British Columbia economy in 2021.Preservation of 3,526 hectares of cultural significance to the Tahltan Nation, with the creation of the new Tenh Dẕetle Conservancy in Tahltan territory.Completion of a socioeconomic baseline study of the Tahltan territory.Low life-of-mine greenhouse gas intensity projection of 0.18 tonnes of carbon dioxide per ounce of gold-equivalent, with potential for further improvement.
“We are excited to share our inaugural ESG report as an important milestone in the evolution of the company. At Skeena, we believe that an emphasis on positive ESG metrics underpins a responsible resource sector and recognize that environmental stewardship, social responsibility and strong governance are fundamental to sustainable economic development,” commented Walter Coles, Skeena’s CEO.
“Our goal is to realize the value of Eskay Creek in such a way that we have a net positive impact economically, socially and environmentally by stimulating local businesses, furthering reconciliation with First Nations, and encouraging low-carbon industries within our supply chain,” he added.
Skeena is currently looking to revitalize the former Eskay Creek mine located in the Golden Triangle of British Columbia. Between 1994 and 2008, Eskay Creek produced 3.3 million oz. of gold and 160 million oz. of silver, from average grades of 45 g/t gold and 2,224 g/t silver.
A prefeasibility study for Eskay Creek in July 2021 highlighted an open pit operation with average grades of 3.37 g/t gold and 94 g/t silver, an after-tax net present value (at 5% discount) of C$1.4 billion, a 56% internal rate of return, and a 1.4-year payback at $1,550/oz. gold.