Our Company, Our Mine

About Pretivm

Pretium Resources Inc. (“Pretivm” or “the Company”; TSX/NYSE: PVG) is an established intermediate Canadian gold producer, headquartered in Vancouver, British Columbia (BC), with a regional office in Smithers, BC. Our company is responsible for the acquisition, exploration, development, operation, closure and reclamation of precious metal resource properties in North America.  

We take our environmental and social responsibility seriously, and have demonstrated this through the operation of our 100%-owned Brucejack Mine (“the Mine”), an underground gold mine located in Northwest BC. Our goal is to create and share value through responsible and sustainable mining. This goes beyond monetary profits or a return on investment for our shareholders. It includes value for neighbouring communities and for First Nations, families, local businesses, and the regional economy of Northwest BC.

Our Values

Pretivm’s core values underpin everything we do, including our mine site operations, relationships with the Company’s managers and leaders, and our interactions with communities, Indigenous groups, and business partners. We launched a fresh articulation of Pretivm’s values in 2020, which support how we understand and manage sustainability within our business and help us achieve our goals. Our values are more than just words: they unify our corporate culture, bring us together, and influence operational decisions across the business.

The Brucejack Mine

Pretivm owns and operates the Brucejack Mine, a high-grade underground gold mine located in the heart of Northwest BC, approximately 65 kilometres north of the town of Stewart. The Mine has been operating since 2017, with a planned operational mine life of 16 years followed by planned decommissioning, reclamation, and environmental monitoring activities.

In addition to the underground mine works, the Brucejack Mine has an associated surface mine site including an on-site processing plant and full-service camp accommodations including a catered dining hall, private rooms, and facilities for recreation, entertainment, and communications. The Mine is serviced by a 73.5-kilometre access road connecting the site to Highway 37, and a transmission line connecting to the hydro-electric provincial power grid. Portions of the Mine and associated infrastructure lie within the traditional territories asserted by the Tsetsaut Skii km Lax Ha (TSKLH) and Tahltan Nation, and in the Nass Area of Nisga’a Nation as defined in the Nisga’a Final Agreement.

As of December 2020, the Brucejack Mine had more than 800 direct employees and more than 500 workers employed through on-site contractors. At the Mine, most employees and contractors work on a two-week shift rotation (although this was extended to a three-week rotation for a period of 2020, in order to manage risks related to the COVID-19 pandemic). Workers, contractors, and suppliers typically access the mine site by road.

Geographical Context

The Brucejack Mine is uniquely positioned in a remote, northern, and geographically challenging landscape. This location influences many of our activities and management practices, and we are acutely aware of how our activities affect the natural environment, and how the natural environment can influence our activities. The journey to the mine site includes a 12-kilometre traverse of the Knipple Glacier using vehicles designed to operate safely on the glacier. We actively monitor changes to the glacier and adapt the alignment of the access road as needed. We divert water around the mine site to reduce the volume of water coming into contact with the site, and collect and treat contact water before safely discharging to the environment. Our wildlife management plans are designed to minimize interactions with surrounding wildlife and protect animals, from large grizzly bears to bats, birds, and toads along the access road. We are privileged to operate in this area and are committed to respect the environment and its biodiversity. Learn more about how we manage environmental impacts in Protecting Our Environment.

We recognize our role as a partner and neighbour for the communities of Northwest BC, including the Indigenous communities of the TSKLH, Tahltan Nation, Nisga’a Nation, Gitanyow Nation, and other Indigenous groups. We strive to be more than an employer by providing access to wellness, training, work experience, and other benefits that can be limited in northern communities. Learn more about how we partner with communities in Community Relations.

Data Highlights

1,307,483 dry tonnes
ore processed in 2020 (average throughput: 3,572 tonnes per day)
97.0%
gold recovery rate

347,743 oz
gold produced in 2020
472,163 oz
silver produced in 2020

Economic Performance1

Pretivm invests in environmental stewardship, our neighbouring communities, and the health and safety of our workforce while also ensuring strong economic returns. For full disclosure of our financial performance in 2020, please refer to our Consolidated Financial Statements, our Management Discussion and Analysis, and our Annual Information Form.

Made in BC

We are proud to be a BC company, producing gold with the support of and supporting local businesses and services. A local focus in both hiring and our supply chain has always been a priority, and we are pleased to maintain the involvement of local suppliers in Northwest BC and throughout the province. We continue to strengthen our local procurement practices and work with our suppliers to build their capacity and competitiveness. For more information about our regional socio-economic influence—including work with local communities and First Nations—see Investing in Our Communities.

Annual Highlights

At the Brucejack Mine, we processed ore at an average throughput rate of 3,572 tonnes per day in 2020. Our current permits support production of up to 3,800 tonnes per day, and we are working to optimize the efficiency of our production at this rate.

We sold 347,923 ounces (oz) of gold and 392,071 oz of silver, generating US$617.6 million in revenue in 2020 including US$317.3 million in cash generated from operations. Annual operating costs were US$471.5 million and capital costs amounted to US$57.8 million. We disbursed US$102.4 million to contractors and service providers. 

We paid CAD$115.9 million in salaries and benefits for our employees, of which CAD$33.0 million went to people living in Northwest BC. We spent CAD$45.7 million on procurement of products and services from businesses based in Northwest BC, marking a 15% increase in procurement spend in Northwest BC since 2019. We contributed a total of CAD$402,306 in donations and sponsorships to local community and Indigenous groups' initiatives as well as industry-related events; further information is provided in Community Relations.

As a mine operator in BC, we pay taxes to provincial and regional governments. These contributions support the broader economy and government services throughout the province, including health, social, education, and infrastructure development. In 2020, Pretivm paid CAD$10.1 million in provincial taxes, including BC Mineral Tax and property tax. Our tax contributions will increase after Pretivm recoups the initial Brucejack Mine construction costs and exhausts the initial construction tax credits. Additionally, we paid CAD$182,000 in municipal taxes to the District of Stewart and the Town of Smithers.

In 2020, Pretivm made CAD$0.86 million in revenue-sharing payments to our Indigenous partners. Combined with the tax payments described above, our contributions to the provincial and regional economy amount to more than CAD$11.1 million in direct payments. In addition to this value, we support economic growth through wages for workers, business revenues, and spin-off economic growth generated by the Mine, our workforce, and our suppliers.

All costs and financial figures are provided in Canadian Dollars (CAD) unless otherwise noted.

Data Highlights

$11.1 million
direct payments in support of provincial and regional economy and First Nations
$115.9 million
in salaries and benefits for our employees

$45.7 million
spending with businesses based in Northwest BC
$33.0 million
in salaries and benefits paid to people living in Northwest BC

Downstream Markets

The Brucejack Mine produces doré bars and flotation concentrate, which contain gold and silver. The doré bars are shipped to precious metal refineries worldwide, where they are processed into refined gold and silver for sale. Refined gold from doré bars is sold to financial institutions in North America. The concentrate is sold to international smelters or traders.

We use 23-tonne bulk containers to transport the concentrate overland from the Brucejack Mine to the Port of Stewart, located in Stewart, BC. These containers were custom designed for Pretivm to ensure full containment of concentrates, avoid the risk of spills during transport, and eliminate the use of 200 tonnes of plastic every year. They also reduce manual on- and off-loading efforts, therefore providing health and safety benefits for our workers. From the port, the concentrate is loaded onto bulk carrier vessels. These ships travel 130 kilometres along the Portland Canal to the Pacific Ocean, transporting the concentrate to smelters in Asia and Europe.

Grassroots Exploration

Exploration activities are important to our business so that we can identify opportunities for organic growth and expansion. We have continued regional grassroots exploration on the 1,220 square kilometre Bowser Property that surrounds the Brucejack Mine. Exploration activities include a comprehensive program of sampling, regional mapping, prospecting, airborne geophysics, ground geophysics, hyperspectral mapping, and data compilation. In 2020, this exploration program included 25,350 metres of drilling across four mineralized zones.

Highlights from our 2020 exploration program included promising results from the Hanging Glacier Zone, located four kilometers northwest from the Brucejack Mine. This new zone of gold mineralization demonstrates the district-scale potential at Brucejack. Our near-mine exploration program in 2021 will focus on this new discovery, which is easily accessible from the Brucejack Mine using existing exploration trails.

Timeline

2016

 

More than 900 direct and contracted workers were involved in construction in the summer of 2016, including completion of the camp, erection of the mill building, and ongoing construction of the mine portal, underground mine, and transmission line.

March 2017

 

Following completion of the 57 km transmission line connecting the mine site to the provincial electricity grid, we energized the transmission line in March 2017.

June 2017

 

We commissioned the process plant in June 2017 and poured the first gold from the Brucejack Mine.

July 2017

 

On July 3, 2017 we formally announced the start of commercial production at Brucejack.

October 2017

 

Pretivm signed a Cooperation and Benefits Agreement with the Tahltan Nation in October 2017. We reached a comparable agreement with the Nisga’a Nation in 2015.

December 2017

 

In December, we submitted an application to provincial regulators to amend our permits to increase the Brucejack Mine production rate from 2,700 to 3,800 tonnes per day.

February 2018

 

We commenced a data-driven, iterative grade control program in February 2018 to refine our mining and optimize our production. The grade control program was fully implemented into our mining process by April, and it continues to be refined and updated with the benefit of additional data through ongoing production.

July 2018

 

A year after the start of commercial production, Pretivm was proud to announce that the Brucejack Mine had achieved steady-state production.

December 2018

 

We received amended permits from the BC Ministry of Energy, Mines and Petroleum Resources and BC Ministry of Environment and Climate Change Strategy in 2018. These amended permits allowed us to increase mine production to 3,800 tonnes per day.

December 2019   

In 2019, we focused on advancing underground development and grade control to optimize production at the increased production rate.

March 2020 

 

We adapted our operations in response to the evolving circumstances of the COVID-19 pandemic, focusing on the wellbeing of our staff, their families and their communities. We were able to maintain production at the Mine without compromising the health and safety of our people through the implementation of new protocols to support physical distancing and other measures.

May 2020   

We achieved a milestone of producing our 1 millionth ounce of gold at Brucejack Mine.

2021 (Looking Ahead)  

With changes in management across the Company, we are working to update our corporate strategy, safety protocol, goals, management systems, and training programs to support optimized efficiency of continued growth and development of the Brucejack Mine and our workers.

 

Industry Involvement

Pretivm is a member in good standing of the Mining Association of BC (MABC), the Association for Mineral Exploration British Columbia (AME BC), the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), and the Prospectors and Developers Association of Canada (PDAC).

Canadian Institute of Mining, Metallurgy and Petroleum (CIM)

Highlight Story

Selling the Gold

Pretivm’s Director of Treasury Janice Song has been with Pretivm since 2017. With 16 years of industry experience in financial reporting, treasury, and risk management, Janice has been looking after corporate financing, treasury, insurance, and sales of the precious metals that the Brucejack Mine produces at Pretivm.

Janice enjoys the challenging and fast-paced nature of her role—being required to follow fast changing global economy, following dynamic gold concentrates market to find best customers for Brucejack products, and always working to improve top line (revenue) of the company.  She has recently taken on additional role in enterprise risk management, showing leadership in new areas and embracing new learning opportunities. “Patience and willingness to take on new challenges are the key!” she says. “It is important to know the direction of career that we want to build, but have the patience to wait for the right opportunities & build the foundation blocks required for future growth.”

When reflecting back on her career, Janice notes that she has rarely turned down new projects or challenges. Working hard and producing quality results has allowed her to develop and advance. When asked how she has such a broad range of experience, her simple answer is: “Good work was always rewarded with more work, but once accomplished them, they became my experiences & skills.” However, Janice also recognizes that her career advancement has not been without its challenges. She sees the lack of women and minorities in corporate management across the mining sector, and believes that there is a lot of room for improvement for the industry to achieve diversity, equity and inclusion.

 
Our Values

INTEGRITYRESPECT