Editorial: Mining

While the region wonders whether or not northwest B.C. will be home to an LNG plant and pipeline, there continue to be other opportunities

News from two mining companies demonstrates that while many await word on whether or not the region will eventually be home to at least one liquefied natural gas plant and pipeline, there continue to be other opportunities.

First up is Pretium Resources which now has provincial environmental approval and aboriginal sign-off for its Brucejack gold project north of Stewart. It’s now anticipating federal approval and still needs to complete its financing.

Second is Alloycorp, formerly Avanti, which announced it has secured (US) $225 million from two international lenders for its Kitsault molybdenum project.

It had been anticipating as much as (US) $612 million from six lenders. One has now dropped out and the remaining three are still in play.

Alloycorp, as does Pretium, still needs to raise a considerable amount of capital but knowing that someone from the outside has enough confidence to invest in this region is encouraging.

Now couple this with work underway by Seabridge Gold for approvals and financing for its gold, silver and copper KSM project, also near Stewart, and the gradual ramping up by Imperial Metals of its finished Red Chris copper mine near Iskut.

Mining, like any industry, is one which requires patience and commitment. To have one project finished and three in the wings is an example of just that.

 

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