Coeur lands permit for Kensington mine

Coeur d’Alene Mines (CDE-N) has cleared another hurdle in the development of the Kensington gold project with the receipt of an important discharge permit from the U.S. Environmental Protection Agency (EPA).

The EPA granted the National Pollution Discharge Elimination System (NPDES) permit, one of the last major permits in the long development of the gold project, which is situated 45 miles north of Juneau, Alaska.

Kensington has been in the development phase for the last 10 years.

Additional permitting was required after Coeur became 100% owner in 1995 and significantly changed the mine plan.

The Alaskan government has already reviewed the NPDES permit and certified that it complies with state standards.

Coeur has also received other important permits, including the U.S. Army Corps of Engineers’ 404 Wetlands permit, on Feb. 3, and the Alaska Department of Environmental Conservation’s solid waste permit, on March 31.

In addition, all permits have been given the thumbs-up with respect to the Alaska Coastal Management Plan.

While these permits bring the project closer to development, the drop in the price of gold in recent months threatens to render it uneconomic. Coeur is currently working with independent consultants on an optimization study designed to reduce capital and operating costs. It also plans renewed exploration on six promising targets in an effort to increase the reserves and improve the economics of the project.