CEO Tom Palmer discusses company’s multibillion-dollar investments in the province
Because it’s not headquartered here, Newmont Corp. may never make BIV’s list of the biggest mining companies based in British Columbia.
Newmont’s Australia-born CEO was in town for a Vancouver Mining Collective event in late October and to visit the company’s Vancouver office. He talked about Newmont’s near-term plans to expand the Red Chris mine with a $2 billion block cave mining project, and longer-term plans to develop Galore Creek—Canada’s largest undeveloped copper deposit.
“Amongst other things, it significantly expanded our copper reserves to 14 million tonnes, which is particularly exciting for our operations and projects in Northwest British Columbia, where copper mining is positioned to become a cornerstone of the province’s long-term economic prospects,” Palmer said in his speech to the Vancouver Mining Collective.
The Red Chris expansion will be subject to a B.C. environmental assessment amendment akin to a full environmental review, as a well as a Section 7 consent agreement with the Tahltan First Nation—a new shared decision-making process under the Declaration on the Rights of Indigenous Peoples Act .
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