06:56 AM EST, 11/21/2024 (MT Newswires) -- Osisko Development ( ODV ) overnight Wednesday said it received the BC Mines Act permits for its 100%-owned Cariboo Gold Project located in central British Columbia.

A statement noted the approval of these permits "marks an important milestone in enabling the company to move forward" with the construction and operation of the underground Cariboo Gold Project.

"It is the culmination of almost five years of extensive discussion and consultation with provincial regulators, Indigenous nations and host communities in ensuring the Project becomes a model for responsible mine development and environmental stewardship that redefines mining for a better future," said Sean Roosen, founder, chairman and CEO.

"As permitting complexity and timelines increase globally, BC's new environmental assessment and permitting framework demonstrates the province's commitment to sustainable mine development relying on a robust consultation process, on predictable, legislated timelines, alongside a clear set of information requirements. We commend all those involved in ensuring the Cariboo Gold Project is successful in navigating this new rigorous review process and in securing key permits for construction and operation."

ODV fell $0.07, or 3.3%, to $2.04 in Canada yesterday,