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For Immediate Release
March 5, 2014
Ministry of Energy and Mines and Minister Responsible for Core Review
VICTORIA – Bill Bennett, Minister of Energy and Mines and Minister Responsible for Core Review announced the $8 million Yellow Giant underground gold mine project on Banks Island will receive its Mines Act permit.
The mine is scheduled to begin operations this spring after construction is completed and will provide up to 90 full-time jobs, many of which will go to First Nations.
The Major Projects Office at the Ministry of Forests, Lands and Natural Resource Operations co-ordinated a cross-agency review process, which included First Nations consultation, to help facilitate timely permitting of Yellow Giant.
Banks Island Gold Inc. will receive their permit to process 200 metric tonnes of gold-sulphide ore per day during the 12-month life of the mine on the unpopulated Banks Island, located about 100 km south of Prince Rupert. Exploration on three additional ore zones on the property will continue with the expectation they may be brought into production in the future.
Since 2011, three new mines are in operation (Copper Mountain, New Afton and Mt. Milligan) creating 1195 jobs and three more mines will open this year (Yellow Giant, Red Chris and Roman) creating another 815 jobs. In addition, three more mines are permitted (Bonanza Ledge, Treasure Mountain, Quintette) and seven major expansions of existing mines have been completed, supporting 3,000 existing jobs and creating 300 new jobs. British Columbia currently has over 20 major mines and expansions moving through the environmental assessment and permitting process.
Bill Bennett, Minister of Energy and Mines and Minister Responsible for Core Review –
“Mining operations in remote areas of the province are key contributors to our resource economy and rural communities. Yellow Giant will provide up to 90 British Columbians with salaries averaging over $100,000.”
Steve Thomson, Minister of Forests, Lands and Natural Resource Operations –
“As B.C.’s ‘one land manager’, my ministry is committed to natural resource development that is environmentally sustainable. By working together, we can complete the permitting requirements for this type of project in a more timely fashion. Today, by utilizing a more effective review and consultation process, we are able to help mining companies create local jobs faster.”
Benjamin Mossman, President and CEO, Banks Island Gold –
“The Yellow Giant project is a unique property with high gold grades and exploration potential. We look forward to growing the project over the coming years and continuing to contribute to the growth in the northwest region of B.C.”
To learn more about the BC Jobs Plan, visit: www.bcjobsplan.ca/
Ministry of Energy and Mines
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