The Mining Association of British Columbia

The Mining Association of British Columbia

September 09, 2009 14:22 ET

The Mining Association of British Columbia: A Good Week for BC's Mining Industry

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2009) - The Mining Association of British Columbia (MABC) celebrated important milestones in the development of important new BC mining projects, with the granting of key provincial permits to the Mt. Milligan and Central South projects of BC-based companies Terrane Metals Corporation and First Coal Corporation, respectively.

"Two major BC mining projects took important steps forward this week," stated Pierre Gratton, President and CEO of MABC. "This is good news for British Columbia, particularly during the current economic downturn. These projects will create new jobs and economic opportunities in northeastern and north central British Columbia."

The B.C. mining sector currently contributes over $8 billion to the B.C. economy. The long term prognosis is for a robust B.C. mining sector, supported by demand for minerals and metals from emerging economies such as China and India. Over 20 B.C. mining projects are in the environmental review process currently, and around a half dozen, including Mt. Milligan and Central South, are well-advanced and are planning to advance to development in the next few years. Construction spending, which is in the millions of dollars, will inject much-needed private sector economic stimulus into the B.C. economy and create hundreds of new, high-paying jobs.

"The Mt. Milligan project, a $900 million capital investment, represents one of the next major copper mines that will keep B.C.'s copper mining industry flourishing for another generation," added Pierre Gratton. "The project has now received its BC environmental assessment certificate and many of its necessary construction permits from the province including its Provincial Mines Act Permit with the remaining permits expected by month's end. Unfortunately, the federal government's environmental assessment process continues to lag significantly behind the Province, otherwise Mt. Milligan would be even closer to realization."

The Bulk Sample Amendment permit for First Coal's Central South property builds on the significant re-emergence of B.C.'s northeast coal sector. British Columbia is one of the top three jurisdictions in the world for high quality, steel-making coal, located mostly in the southeast and northeast of the province. The rapid industrialization of emerging markets makes the future for B.C.'s steel-making coal sector very bright.

The MABC is regarded as the predominant voice of BC's mining industry representing the collective needs and interests of operating coal, metal and industrial mineral mining companies.

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