The Canadian copper mining company is poised to announce a $1 billion expansion of its operations in the province’s B. C. mining region, including the construction of two new mines in the nearby Copper Belt.
The announcement comes days after the government announced $9 billion in tax relief for mining companies, including a $5-billion increase in the mining tax.
The $1-billion project is one of the largest expansion projects in B. Canada’s history, with more than 3,000 new jobs and an additional 2,200 people.
Mining Corporation said it will also develop a new processing plant, including an iron ore processing facility, to meet demand for its iron ore, copper and zinc ore.
The company said the expansion will boost production from 1,300 tons to 2,000 tons per day.
“The B. c.
Mining Corp. is pleased to announce it will expand its Copper Belt operations with two new major mine projects,” said the company’s president and CEO, John Deere.
“These two projects are expected to provide additional capacity to meet future growth and supply needs.”
The BCHC said it expects to open the projects in 2018.
Deere said the new copper and gold mines will have the potential to produce up to 400,000 tonnes of iron ore per year, which is the equivalent of three times the capacity of the existing Copper Belt mines.
“We look forward to continuing to work with the Government of B. ca and the Province of B., as we look forward into the future of the BCHc Mining Corporation,” he said.
Deekes statement comes as the province has also approved $4 billion in economic stimulus packages for mining industries.
The Liberals and the NDP have both promised to support economic growth and job creation for the province.
The BC Liberals said they will boost funding for new mines, but not for the Copper Belt projects.
“BC is well-positioned to thrive in the future with the BCTC’s leadership and industry expertise,” the Liberals said in a statement.
“By investing in our new mines and processing facilities, the BC Liberals will provide a boost to economic activity, while making it possible for the BCRC to provide greater economic growth opportunities for all Manitobans.”
In the meantime, the BCLC has been expanding in the Copperbelt, which has a mining industry worth more than $8 billion and employs more than 4,500 people.