Midas Gold Corporation sees changes, the South Fork Salmon remains at risk

While the Forest Service is deep in the midst of compiling and analyzing tens of thousands of public comments on the Stibnite Gold Project, Midas Gold is seeing a sweeping internal transition in leadership. 

On December 4th, 2020, Midas Gold Corporation announced major changes, including a transition of 5 members of the Board of Directors, and appointment of Laurel Sayer as a director, President and CEO of Midas Gold Corporation. Sayer is also currently the CEO and President of the local subsidiary, Midas Gold Idaho, Inc., and will now take a leadership role on the corporate board. Of the 5 new board directors, 3 are based in Idaho. This sweeping change in leadership came at the request of Paulson & Co Inc., an investment management firm based in New York City, which is the single largest shareholder of Midas Gold with 44.1% of outstanding common shares. 

While there is uncertainty as to what this transition will mean for the South Fork Salmon River, the announcement, to our disappointment, clarified that “the changes announced today will have no impact on Midas Gold’s proposed Project or commitments.” 

IRU and many partner organizations remain opposed to Midas Gold’s proposal due to the numerous risks and unavoidable impacts to the South Fork Salmon watershed and region. While we appreciate the transition in leadership at the executive level to Idaho, our concerns about the Stibnite Gold Project remain unchanged. 

2020 has been a challenging year for all, and it’s important in this issue, like all things, to seek opportunities for positive change. Perhaps with this change in leadership to include some local folks, Midas Gold Corporation will take the overwhelming public opposition to their current proposal seriously. However, we cannot rest on hope alone, and continued engagement and action will be required to ensure that your voice is heard. 

For those in the region, it is well known that the Stibnite Gold Project has unfortunately caused immense division in the community, from Yellow Pine to McCall and south to the Treasure Valley. In a time of both unprecedented polarization of politics and civic engagement, sincere dialogue is more important than ever. We invite the new board members, especially those based in Idaho, to meaningfully engage with our coalition of organizations, and the people that we represent, to help steer this process in a positive direction. 

To our members, we encourage you to write your local newspaper and share some takeaways from your public comment letter with Midas Gold Corporation’s new leadership. Head over to our Stibnite webpage for more information.


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