Jan 11, 2018 Kudz Ze Kayah Project proposal passes key assessment gateway

BMC MINERALS (NO.1) LTD (“BMC Minerals” or the “Company”) the Canadian subsidiary of BMC (UK) Limited (“BMC”) has received formal notification that the Kudz Ze Kayah (“KZK”) Project Proposal has passed through the Adequacy stage of the Screening and Evaluation Process with the Yukon Environmental and Socio-economic Assessment Board (“YESAB”).

The KZK Project Proposal was submitted in March 2017, for YESAB assessment in accordance with the Yukon Environmental and Socio-economic Assessment Act (“YESAA”), in Whitehorse, Yukon, Canada.

In its letter to BMC, YESAB confirms that their Executive Committee has determined that the Company has met its statutory requirement under s.50(3) of YESSA, that the Company has taken into account the matters referred to in paragraphs 42(1)(b), (c) and (e) to (h) and that in accordance with s.57(1) and (2) of the Act the Committee considers the project proposal to be adequate.

The YESAB Evaluation and Screening Process covers four stages; Adequacy, Screening, Report and Decision. The KZK Project now moves into the Screening stage which involves formal technical review with an opportunity for public comment.  This will be followed by the publication of a YESAB Draft Screening Report and Recommendations. BMC anticipates the final Report document will be submitted by YESAB to the Yukon Government Decision body in late 2018 with the final approval decision expected to be published in early 2019.

During 2018 and 2019 the Company will work with the Yukon regulatory bodies to expeditiously complete the YESAB Screening process and subsequently a Yukon Water Board review for a Type A Water Licence. Once these processes are complete the Company anticipates the key licences required to construct and operate the KZK mine and processing plant will be awarded.

BMC Minerals remain focused on commencement of early construction activities in 2019 and for first production of saleable copper, lead and zinc concentrates from KZK to start mid 2021. The Company is scheduled to complete its Definitive Feasibility Study on the Project in Q2 2018. BMC Minerals will continue with their extensive community engagement and consultation program, recognising that community support is essential to the success of the KZK Project.

Commenting today Scott Donaldson, CEO, said; “BMC is committed to developing a modern, financially viable and environmentally responsible project at Kudz Ze Kayah. Over the next two years we will continue to work with Kaska, local communities, all levels of government and key stakeholder groups to ensure KZK fulfils all necessary environmental and community consultation obligations. Since beginning exploration activities in 2015, BMC Minerals has consulted with and sought input from all key local communities including Kaska representatives, and has co-developed a successful local content chain in addition to direct employment opportunities. We remain focused on delivering first production from this project in 2021.”

Full announcement:20180111_BMCM1_KZK passes through Adequacy with YESAB