Skeena Gold & Silver Completes Permitting Process for Eskay Creek
Permitting Finish Line Crossed: Skeena Transitions from Developer to Builder with Orion Billions in Sight
On February 3, 2026, Skeena Resources announced the receipt of the Environmental Management Act (EMA) Permit from the British Columbia Ministry of Environment and Parks. This follows the receipt of the B.C. Mines Act Permit on January 27, 2026. Management states this completes the permitting process for the 100%-owned Eskay Creek Gold-Silver Project. The project is now fully authorized for commercial development, with a target to restart mining operations in Q2 2027. The permits were jointly approved with the Tahltan Central Government, fulfilling the requirements of the landmark Section 7 agreement.
The receipt of the final EMA permit is a de-risking milestone of high materiality. Crucially, this regulatory clearance is the condition precedent required to access the balance of the US$750 million financing package from Orion Resource Partners. - Financial Liquidity: The company previously indicated it needed these permits to unlock the Orion facility. As of Q3 2025, the company had C$108 million in cash, which is insufficient for the US$713 million initial capital expenditure required for Eskay Creek. Unlocking the US$750M package is the only path to production without massive further equity dilution. - Timeline Validation: The news confirms the company is sticking to its goal of a Q2 2027 restart. However, the 14-month window from permit to production is aggressive for a project of this scale, leaving little room for construction delays. - Social License: The joint approval with the Tahltan Nation suggests the project has solid local backing, reducing the risk of blockades or legal challenges that often plague B.C. mining projects.
Skeena Resources is focused on the Eskay Creek Gold-Silver Project in the Golden Triangle of British Columbia. Eskay Creek was previously the highest-grade gold mine in the world. The current plan is a 12-year open-pit operation producing 450,000 oz AuEq annually for the first five years. The project benefits from existing infrastructure but requires significant new processing facilities and power interconnection.