CAMBPELL RIVER - Quinsam Mine, a coal mine located on central Vancouver Island, has been awarded a Mines Act amendment permit to extend its mining operations.
The Quinsam Mine will continue to provide more than 500 direct and indirect jobs in the Campbell River area, announced Minister of Energy and Mines Rich Coleman.
Quinsam Mine, the only underground coal mine in B.C., will produce more than 500,000 tonnes of thermal coal a year. The mine started production in 1986. It has in excess of 40 million tonnes of coal resources, and is owned and operated by Hillsborough Resources Limited.
Located 20 kilometres west of Campbell River, Quinsam Mine provides wages and benefits for about 140 employees living on Vancouver Island totalling more than $14 million per year. Quinsam is traditionally a large supplier to the cement industry in the Lower Mainland, and also exports coal to customers offshore.
Quinsam Mine is committed to maintaining the highest standards of safety and environmental compliance. Among its other commitments to sustainability, it is dedicated to developing and implementing techniques to recycle old waste materials and convert them to usable products. Furthermore, it was the first mine to be permitted to dispose of coarse rock refuse underground in old mine workings.
As part of 'Canada Starts Here: The BC Jobs Plan', the Province expects to see eight new mines and another nine mining expansions operational in British Columbia by 2015. This is the second mine expansion announced and the first on Vancouver Island.
- Today, B.C.'s mines are profitable, tax revenues are rising and direct mining jobs are increasing.
- To ensure future prosperity, the Province is stepping up its permitting approval processes to ensure industry is in a position to achieve growth, while continuing to maintain high health, safety and environmental standards.
- The Province helps to ensure a profitable mining sector through the provision of variety of industry incentives:
- Mining Exploration Tax Credit provides a 20 per cent refundable tax credit for companies.
- Mining Flow Through Share Tax Credit provides a non-refundable 20 per cent tax credit. This incentive makes the cost of eligible exploration the second-lowest in the country.
- New Mine Allowance provides the equivalent of a 133.3 per cent deduction of capital costs for mines that commence or expand production before Jan. 1, 2016.
Ministry of Energy and Mines