The Red Chris Development Corporation today was issued a Mines Act permit for its Red Chris copper and gold mine which is located 80 km south of Dease Lake in northern British Columbia announced Rich Coleman, Minister of Energy and Mines.

Red Chris Development Corporation, a subsidiary of Imperial Metals Corporation, projects the capital cost of this development to be around $444 million and it will provide 250 full time jobs. The site is estimated to have a mine life of 28 years with a reserve of 276 million tonnes of copper and gold.

The mine will be serviced by the new Northwest Transmission Line, which will begin construction in the summer 2012 and be completed in 2014. Once the mine is fully operational, material from the mine will be produced daily and transported to the Port of Stewart where it will be shipped to overseas markets.

To encourage collaboration on this project, the Red Chris Monitoring Committee will be established and provide a forum for First Nations, government and the company to review and address environmental concerns and potential impacts throughout the life of the mine.

Mineral exploration and mining is an important economic driver for British Columbia. The production value of B.C.'s mining industry was approximately $8.6 billion in 2011.

Quotes:

Premier Christy Clark -

"British Columbia was built on the strength of our natural resources. Today's announcement emphasizes the importance of our mining sector as a major employer in the North. The 250 full time jobs will create stronger families and communities for many years to come."

Rich Coleman, Minister of Energy and Mines -

"Red Chris is the latest example of how our government is increasing investment and expanding job creation to protect our environment and build a better quality of life for future generations. This permit will enable the project to move forward while the company works with the community to ensure the mine's success."

Pierre Lebel, chairman of the board, Imperial Metals Corp. -

"Imperial Metals Corporation is a B.C. resident mining company that has earned an excellent track record of mine development and operation with the Mount Polley Mine in Williams Lake and the Huckleberry Mine near Smithers. We are privileged to be developing the world-class Red Chris deposit, together with a highly capable group of First Nations contractors, local businesses and individuals resident in our northern communities which have been hardest hit by declines in the forest industry."

Quick Facts:

• In 2011, the mining industry increased its production value by 20 per cent from the year before to approximately $8.6 billion.

• Mineral exploration spending exceeded $460 million in 2011, an increase of 35 per cent from 2010 and 1,500 per cent higher than a decade ago.

• B.C. accounts for approximately 15 per cent of all exploration spending in Canada.

• In 2011, more than 29,000 people were employed in mineral exploration, mining and related sectors, mostly in rural B.C.

• As committed in the BC Jobs Plan, eight new mines will open and nine will be expanded by 2015. This will result in:
• an increase annual mine-operation revenue by $1.6 billion;
• approximately 2,000 construction jobs;
• 2,000 new direct jobs and 3,000 indirect jobs;
• sustain 12,500 existing jobs (5,000 direct and 7,500 indirect); and
• over $150 million annually in government revenue.

Contact:

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