Skeena Resources Secures Clean Power for Eskay Creek Project

Skeena Resources Limited (NYSE:SKE) is one of the best-performing NYSE stocks to buy now. Towards the end of May, Skeena Resources announced the completion of an interconnection and transmission agreement with Coast Mountain Hydro Limited Partnership/CMH. The agreement allows Skeena to connect to CMH’s transmission line for its 100%-owned Eskay Creek Gold-Silver Project in British Columbia, Canada.

CMH operates 3 run-of-river hydroelectric facilities: Forrest Kerr, McLymont Creek, and Volcano Creek Hydro Projects, which supply power to the BC Hydro Northwest Transmission Line. CMH is partly owned by the Tahltan Nation and provides clean and renewable power to Tahltan communities in Northwest British Columbia. The agreement enables a power connection merely 17 kilometers from the project site, which eliminates the need for Skeena to construct its own transmission line and infrastructure.

Skeena Resources Secures Clean Power for Eskay Creek Project

A mining operation in a remote location, the mine entrance illuminated with headlamps.

Under the agreement, Skeena will connect to CMH’s transmission line, which is linked to the BC Hydro network. Skeena will purchase electricity directly from BC Hydro by paying a tolling charge to CMH. As part of the project design, Skeena will construct a substation with a 30-year design life, along with metering devices to monitor energy consumption. The agreement will automatically renew annually and can support the project’s power requirements. Power lines to the site will commence installation this year and are anticipated to be completed by H2 2026.

Skeena Resources Limited (NYSE:SKE) explores and develops mineral properties in Canada. The company explores for gold, silver, and copper deposits.

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Disclosure: None. This article is originally published at Insider Monkey.