The Mining Association of British Columbia

The Mining Association of British Columbia

October 01, 2007 20:22 ET

The Mining Association of British Columbia-Great Day for Mining: Federal and Provincial Governments Move to Strengthen Mining Sector

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2007) - The Mining Association of B.C. applauded the efforts of both the federal and provincial governments today at the Asia Pacific Forum on Mining and Minerals in Vancouver. Both levels of government made significant announcements today that will strengthen the mining sector and help secure its long-term future.

The provincial government announced that it has asked the British Columbia Transmission Corporation to proceed with the $400 million Northwest Transmission Line (NTL) in northern B.C. The pursuit of the NTL project is based on a proposed cost-sharing agreement with the Galore Creek Partnership, which will contribute $158 million to the capital cost of the project.

"The B.C. government is to be congratulated for its vision to open up the northwest region of the province, while helping to secure the long-term viability of the province's mining sector," said Michael McPhie, President and CEO of the Mining Association of British Columbia. "The electrification of B.C.'s northwest will provide reliable clean power, while providing economic opportunities for First Nations and communities in the region."

In another announcement at the Asia Pacific Forum, Federal Minister of Natural Resources Gary Lunn announced $150 million in funding to establish a Major Projects Management Office (MPMO) to improve coordination within Canada's regulatory system by providing a single point of entry. The MPMO will reduce red tape while ensuring that environmental protection is a priority.

"The creation of the Major Projects Management Office is very good news for the resource sector in B.C. and across Canada," said McPhie. "Over half of all proposed mining projects in Canada are here in B.C., many of which are in the province's northwest region, and the federal government's initiative to streamline the regulatory process is very welcome news."

Both announcements took place at the Asia Pacific Forum on Mining and Minerals in Vancouver. The inaugural conference brings together senior representatives from industry, government, the investment community, academics and non-governmental organizations. The objective of the forum is to increase trade, investment and collaboration in the mining and minerals sector between B.C., Canada, and countries around the Pacific Rim.

The Mining Association of B.C. speaks on behalf of mineral producers, the major component of a $10 billion industry in B.C. MABC represents the collective needs and interests of smelters and operating coal, metal, and industrial mineral mining companies. For more information, visit: www.mining.bc.ca.

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