Newmont, Imperial Metals bags $500m Canadian gov support for Red Chris expansion
TSX-listed Imperial Metals has confirmed it will receive $500-million from the government of Canada to advance the Red Chris mine block cave transition, under the Canada-British Columbia Cooperative Prospectivity Agreement.
As the Red Chris joint venture advances through the internal approval process toward a final investment decision, this commitment strengthens the business case for the development of its proposed block cave copper/gold operation.
"Our joint venture partner, Newmont Corporation, is in the process of completing a definitive feasibility study for the project. The Red Chris block cave is expected to create more than 1 800 jobs during construction and sustain a total workforce of 1 500 comprising peak-season operational roles," Imperial explains.
The project is expected to extend the life of the current Red Chris mine by about 14 years and sets the foundation for decades of potential additional mining.
Imperial currently holds 30% of the Red Chris mine, while Newmont holds the balance.
"It represents a significant opportunity to create long-term value for Imperial’s shareholders, strengthen critical mineral supply chains, and deliver long-term benefits for local communities, Indigenous partners, British Columbia and Canada," Imperial concludes.
Newmont in June secured crucial regulatory approvals that pave the way for a transition from openpit mining to a block cave operation.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation


















