Seabridge Gold Inc
SA
Materials
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exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Seabridge Gold Inc. is a mineral exploration and development company whose primary asset is the Kerr-Sulphurets-Mitchell (KSM) project in British Columbia, a proposed copper-gold mine. The project has been the subject of sustained, multi-year opposition from Indigenous communities and environmental groups. A 2020 petition to the Inter-American Commission on Human Rights alleged the mine threatens the rights of Indigenous peoples in Southeast Alaska, citing potential transboundary pollution. Separately, a request for review was submitted to Canada’s National Contact Point charging violations of OECD Guidelines during the project's development. In December 2024, Alaskan tribes and conservation groups filed a lawsuit against British Columbia, seeking to force a restart of the regulatory process for the KSM project, which is owned by Seabridge. The company's corporate focus is providing shareholders with leverage to gold prices, centered on advancing this contested large-scale extraction project.
Seabridge Gold is developing the Kerr-Sulphurets-Mitchell (KSM) copper-gold project in northwestern British Columbia, one of the world's largest undeveloped gold-copper deposits. The project's scale — proposed open-pit and underground mining in a seismically active, glacier-fed watershed — presents significant prospective environmental risk.
In August 2023, Seabridge pleaded guilty to infractions observed by the Government of Yukon and was fined $43,700, including a $5,700 victim fine surcharge. The penalty is modest but establishes a documented compliance failure in a jurisdiction adjacent to the KSM site.
Seabridge successfully challenged a British Columbia Supreme Court ruling to recover $4.4 million in tax credits previously denied by the CRA, with another $9.4 million in potential recoveries pending. The KSM project remains in the permitting and development phase, where its primary risk is prospective: large-scale mining in a sensitive watershed with no operating track record to evaluate actual environmental performance.
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