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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Page 52 of 63

W inte r 20 1 9 53 Newcrest Sign B.C. Deals such organizations as the B.C. Regional Mining Alliance, to build up B.C.'s brand." Galore Creek is one of the world's largest undeveloped copper-gold-silver projects. "Galore Creek holds the potential to support decades of profitable copper and gold production in a favourable mining jurisdiction, in line with our strategy to create long-term value for our stakeholders," said Gary Goldberg, Newmont Goldcorp's then- president and CEO, in announcing the deal. "Partnering with Teck allows us to bring both organizations' considerable technical, financial and sustainability strengths to bear in evaluating and refining development plans for Galore Creek, and to build on the strong relationships Teck has established with the Tahltan First Nation and British Columbia." Red Chris is a copper-gold porphyry mine with an operating open-pit mine and mineral resources of 20 million ounces gold and 13 billion pounds copper. Newcrest says the Red Chris acquisition is a measured entry into North America and aligns with the company's goal of building a global portfolio of Tier 1 ore bodies. "Red Chris has the potential to become a Tier 1 ore body through Newcrest's advanced block caving skills," the company says. It believes it will be able to unlock "significant value" from the deposit by applying what it calls its unique technical expertise in block caving, operations optimization and selective processing. "Newcrest and the Tahltan Nation have established an excellent relationship thus far, based on mutual respect," says Chad Norman Day, president of the Tahltan Central Government. "The Tahltan Nation welcomes Newcrest into our territory and looks forward to a lasting, meaningful and fruitful partnership." Red Chris and the Tahltan Nation have signed an updated Impact, Benefit and Co-Management Agreement (IBCA). The IBCA provides the basis for a life-of-mine partnership covering royalties, education, training, employment and contracting opportunities, capacity support and provisions for communication and interaction on social and environmental matters. Michelle Mungall, the provincial government's Minister of Energy, Mines and Petroleum Resources, says mining in B.C. is strong, with growing revenues, robust employment and significant recent exploration investment led by global mining companies. "Investors appreciate that we are a safe and attractive place to do business because of our strong, sustainable and predictable regulatory system, world-class geology and commitment to reconciliation with Indigenous peoples," says Mungall. "We are taking proactive action to support the mining sector and ensure B.C. is a good place to invest and do business." The Impacts of MINERAL EXPLORATION to British Columbia The typical exploration project has a small and temporary footprint with broad-ranging benefits to the local economy MINERAL EXPLORATION IS A KEY CONTRIBUTOR TO THE BC ECONOMY 1 Exploration expenditures over the past 15 years $5b Exploration expenditures in 2018 $331m Average exploration annual project budget $1.2m BC exploration projects in 2018 261 Discoveries of the past 15 years have brought mines such as Brucejack, New Afton, Mount Milligan, Red Chris and Copper Mountain into production Supply Companies, Equipment, & Consumables are 60% of the Budget sharing project information and outreach. Working with leaders and knowledge-holders. Early Exploration projects: Partnerships and collaboration on project design and planning. Support and participation in community events and capacity building through training employment and procurement opportunities. Advanced Exploration projects: MINERAL EXPENDITURES ARE LOCAL 2 Stays in BC 97% Communities benefit from exploration expenditures 150+ Stays in region 38% Local employment across a wide range of occupations Labour is 40% of the project budget and increased household incomes by $180 million in 2018 Environmental Technicians Field Assistants General Labourers Drillers Geologists 3 Electrical Heavy Equipment Safety Training Professional Services with Head O'ices in Vancouver Geophysics Drilling Aviation Surveying Expediting Accommodation Engineering Environmental Laboratory Geological MINERAL EXPLORATION COMPANIES ENAGAGE WITH INDIGENOUS GROUPS MINERAL EXPLORATION COMPANIES HIRE LOCAL SMALL BUSINESSES 4

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