Premier Christy Clark announced financing worth $1.36 billion for two major investments which will eventually create over 6,700 jobs.

"This investment clearly shows how confident China is in British Columbia's world-class mining resources and strong investment climate," said Premier Christy Clark. "These two projects support our BC Jobs Plan and according to the companies will create over 6,700 jobs and other economic benefits for British Columbians."

The first investment is by the Canadian Kailuan Dehua Mines Co., Ltd., which is a partnership formed in July 2010 and includes the Kailuan Group Co., Ltd, Shougang Group and Canadian Dehua International Mines Group Inc. Canadian Kailuan Dehua Mines Co., Ltd. is planning to develop the Gething Coal mine, 25 kilometres south of Hudson's Hope.

"The construction of Gething Project will bring benefits to other industries in B.C. as well, such as building materials industry, machinery and maintenance industry. We will continue to cooperate with local government, community, First Nations and all stakeholders to contribute to B.C.'s economy," said Mr. Nie Baozhong, General Manager of Canadian Kailuan Dehua Mines Co., Ltd.

The total investment is estimated by the company to be $860 million. Construction is scheduled to begin in about two years after the environmental assessment, permits and First Nations and community consultation are complete. The coal mine should have a mine life of over 40 years and the company projects a production rate of two million tonnes of washed coal per year. According to Canadian Kailuan Dehua Mines Co., Ltd., the construction of Gething Project will create 773 long-term direct jobs, along with another 4,000 indirect jobs.

The second investment is by the Shandong Energy Feicheng Mining Group Co. Ltd. and Canadian Dehua International Mines Group Inc. These companies have signed a co-operation agreement and will commit $500 million to the project in its early phase. The companies estimate that this partnership will create economic opportunities and over 2,000 jobs for local communities during construction and development of the project.

"We are very pleased we signed the agreement during Premier Clark's visit to China. We believe our investment can bring solid economic benefits and create tangible job positions in B.C.," said Mr. Bu Changsen, President of Shandong Energy Group, the parent company of Shandong Energy Feicheng Mining Group Co. Ltd.

British Columbia is a safe place for Chinese investment. Its strong credit rating and sound taxation policies make it an attractive place in which to invest. B.C. is Canada's gateway to Asia, with the closest ports to Asia in North America. This makes it easy to ship mining products to China. Chinese investment in Canada increased by 9.3 percent to $14 billion in 2010, with British Columbia being one of the growing destinations for that investment.

As part of the BC Jobs Plan, Premier Christy Clark is leading the largest trade mission in the province's history to promote B.C. as a safe harbour for investment. The Jobs and Trade Mission is focused on strengthening existing relationships between B.C. and Asian markets, opening doors for new relationships and setting the stage for future opportunities in China and India.

Delegates from more than 130 companies and organizations are accompanying the Premier as part of the effort to defend and create jobs here at home. Health Minister Mike de Jong will also be accompanying the Premier during her time in India.

Japan and Hong Kong are also on the jobs and trade mission itinerary. Minister of Forests, Lands and Natural Resource Operations Steve Thomson will travel to Japan and Minister of Jobs, Tourism and Innovation Pat Bell, ends his part of the mission in Hong Kong.

Media Contacts:

Marisa Adair
Communications Director
Ministry of Jobs, Tourism and Innovation
250 431-7316
Marisa.Adair@gov.bc.ca

Sandra Steilo
Media Relations
Ministry of Energy and Mines
250 952-0617

Judy Matkaluk
Vice General Manager
Canadian Dehua International
judy.mat@kailuandehua.com
86-18701340910 (available while in China until Nov. 13)
250 710-0587 (available upon arrival in Canada)

Chao Song
Chief of International Trade Dept.
Shandong Energy Feicheng Mining Group Co., Ltd.
(+86) 0538-3127237