Mineral Exploration

Winter 2019

Mineral Exploration is the official publication of the Association of Mineral Exploration British Columbia.

Issue link: http://digital.canadawide.com/i/1189730

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52 Mineral Exploration | amebc.ca PHOTO: NEWCREST MINING Newmont Goldcorp, Newcrest "Many multinationals are looking at B.C. as a place to invest," says AME chair McLeod By PETER CAULFIELD M ineral exploration and development in B.C. is starting to show a definite spring in its step, with foreign majors indicating renewed interest in the province. For example, in summer 2018 Newmont Goldcorp acquired a 50 per cent interest in the Galore Creek Mining Company from NovaGold Resources Inc. Newmont Goldcorp is an American mining company with producing gold mines in Nevada, Australia, Ghana, Peru and Suriname. In recent years it has built nine new mines and expansions on four continents that were on or ahead of schedule and at or below budget. The deal makes Newmont Goldcorp a partner of Teck Resources Limited on the Galore Creek project in northwestern B.C. There's more good news, too. In August 2019, Newcrest Mining Limited completed a 70 per cent acquisition of the Red Chris copper-gold mine in northwestern B.C. from Imperial Metals Corporation. An Australian company, Newcrest explores, develops, mines and sells gold and gold-copper concentrate. Rob McLeod, chair of AME, says the Newmont Goldcorp and Newcrest acquisitions are "absolutely good" for B.C. "The amount of capital involved is significant, and a testament to the companies' confidence in B.C.," says McLeod. He says 2019 has seen a recent trend that is good news for mineral exploration and development projects throughout B.C. "Many multinationals are looking at B.C. as a place to invest, so there's good reason to be optimistic," McLeod says. Kendra Johnston, AME president and CEO, says B.C. mineral exploration is well positioned to succeed. "Many companies here are doing great things," she says. "At the same time, there's a perception with some investors that the industry here is unduly hampered by challenges with regulations, policy and permitting." In fact, she says, the provincial government is very much in tune with the industry's economic, social and environmental responsibilities. "Government is committed to doing the right thing," says Johnston. "It's working with AME, through Red Chris pit.

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