Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesMiningNewsB.C. advances critical mineral strategy with approval of $3-billion Red Chris copper and gold mineFinal investment decision to come later this year You can save this article by registering for free here. Or sign-in if you have an account.Red Chris mine has a mineral resource of 20 million ounces of gold and 13 billion pounds of copper. Photo by Handout /Newcrest MiningThe B.C. government’s approval of a multi-billion-dollar expansion of the Red Chris gold and copper mine sets owner Newmont Corp. up for a final investment decision later this year.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe mine was on both the provincial and federal government’s fast-track project list, meant to boost production of critical minerals needed for the technology and clean energy sectors.Copper is considered a critical mineral and largely exported from B.C. to Asia.Breaking business news, incisive views, must-reads and market signals. 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Please try again“The Red Chris Block Cave project represents a compelling long-term opportunity and (the) approvals mark a significant milestone in stage-gating, as Newmont progresses toward a final investment decision later this year,” said Natascha Viljoen, Newmont’s president and CEO.“With significant mineral endowment, availability of clean hydroelectric power, port access, supportive governments, and strong Indigenous economic leadership, northwest British Columbia is emerging as a world-class mining district.” said Viljoen.“We are proud to have advanced this project through a consent-based framework with the Tahltan Nation, reflecting our shared commitment to responsible resource development.”Newmont is a global mining giant headquartered in Denver, Colorado, with mines in North America, including the Bruce Jack gold and silver mine in northern B.C., and others in South America, Australia, Africa and Papua New Guinea.The Red Chris mine in northern B.C. is already a large operating open pit mine.Newmont has proposed expanding production and increasing the life of Red Chris by using the block-cave method, where a large ore body is undercut, allowing it to collapse under its owns weight. The broken ore is then extracted from below.The project will extend the life of the mine by more than a decade and increase Canada’s annual copper production by more than 15 per cent.The project has the support of the Tahltan Nation and involved a shared-decision process with the First Nation. The mine is in the Nation’s traditional territory.“Some have questioned whether recognizing Indigenous rights would make it harder to advance major projects in British Columbia,” said Kerry Carlick, president of the Tahltan Central Government.“(This) announcement provides a clear answer. The approval of the Red Chris Block Cave Project, developed in partnership with the Tahltan Nation, the province, and Newmont, the world’s largest gold producer, shows that meaningful Indigenous involvement creates certainty, strengthens projects and delivers benefits that are shared by all British Columbians,” said Carlick.The project is expected to create about 1,800 construction jobs at its peak and sustain the existing 370 mines jobs and other contract and spinoff jobs until at least 2040, while increasing ore processing to 15 million tonnes a year from 11 million.Red Chris is southeast of the tiny community of Iskut, about 1,600 kilometres north by road from Vancouver.The B.C. government touted the collaboration with the Tahltan.“This approval is the result of strong collaboration between the province and the Tahltan Nation, demonstrating that First Nations partnerships advance major projects in a way that respects rights, builds trust and strengthens shared prosperity,” said Jagrup Brar, the minister of mining and critical minerals.The province has also conditionally promised $44 million on upgrades on a power transmission line to the Red Chris mine, and another $195 million for roads in northwest B.C. that would help support the mine.The B.C. Mining Association welcomed the announcement of the regulatory approval.“The Red Chris Block Cave Project is the seventh major B.C. mine or mine extension permitted in the last 18 months. While this is great news, we urge the provincial government to build on this momentum by accelerating permitting for more mines to make B.C.’s and Canada’s economy stronger,” said Michael Goehring, the association’s president and CEO. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.