Galore Creek Project
NORTHERN BC – The Federal Government has announced funding of up to $60-million for two critical mineral infrastructure developments, pending final due diligence from Natural Resources Canada. The developments funding provided through the Critical Minerals Infrastructure Fund (CMIF) are in B.C.’s Golden Triangle and the Yukon.
Galore Creek Mining Corporation (Galore Creek) is planning to construct a 43-kilometre access road to support the development of its copper mine located in Tahltan Territory in northwest B.C. The Galore Creek deposits contain over 12 billion pounds of copper and, once in production, will significantly increase Canada’s annual copper supply.
The construction of the Galore Creek Access Road would link the mine project to existing road infrastructure, provide ground access to proposed mill and processing facilities, and provide the electricity transmission corridor allowing the Galore Creek mine to operate using BC Hydro’s low-emission electricity grid. Road improvements are integral to advancing critical minerals development in B.C.’s northwest, in partnership with First Nations. Pending final due diligence, Natural Resources Canada has conditionally approved an investment of up to $20 million under the CMIF for this project.
The Government of Yukon is seeking to undertake pre-feasibility activities to advance a 765-kilometre, high-voltage transmission line network that would connect the Yukon electrical grid to the North American grid in B.C. This regional project has proposed energy infrastructure located in two priority regions for critical minerals development — Yukon’s Cassiar and Tanana regions and B.C.’s Golden Triangle. The transmission line could support projects producing critical minerals such as cobalt, copper, molybdenum, nickel, platinum group metals, tungsten and zinc in the Yukon and northern B.C. Pending final due diligence, Natural Resources Canada has conditionally approved an investment of up to $40 million under the CMIF for this project.
The Critical Minerals Infrastructure Fund is a key program under the Canadian Critical Minerals Strategy to address infrastructure gaps and enable sustainable critical minerals production and connect resources to markets through various clean energy, electrification and transportation infrastructure projects. Future funding decisions for projects under the CMIF to further critical minerals infrastructure development are also expected in the coming months.
These projects — which benefit from close collaboration under the B.C. and Yukon Regional Energy and Resource Tables — are, in addition to the recently announced Northwest BC Highway Corridor Improvements Project, key to facilitating critical minerals development in the Golden Triangle and Yukon. B.C.’s Golden Triangle has considerable mineral potential and holds approximately 75 percent of Canada’s known copper reserves. Copper is crucial in various industrial processes and a fundamental component in electrical wiring, electronics and renewable energy systems, including solar panels and wind turbines.
“Newmont is a 50/50 partner of the Galore Creek Project with Teck Resources. Galore Creek stands as Canada’s largest undeveloped copper project, poised to play a crucial role in the transition to a low-carbon economy. As global demand for copper surges, we will soon face a supply deficit that underscores the project’s significance. The investment through Canada’s Critical Minerals Infrastructure Fund in a vital road for Galore Creek will help unlock the project and the broader region’s substantial critical mineral potential in northwest B.C,” noted Bernard Wessels, Managing Director North America, Newmont Corporation.
Business Examiner Staff
