Newmont said on Friday its Red Chris mine in British Columbia has received crucial regulatory approvals, paving the way for a transition from open-pit mining to a block caving operation and extending its lifespan into the mid-2040s.
Newmont holds a majority ownership and operates the Red Chris mine in partnership with Imperial Metals, which holds a 30 per cent joint venture stake.
The approvals mark a critical step for Newmont as it moves towards a final investment decision on the Red Chris Block Cave project later this year, the company said.
Newmont said it expects the project will create over 1,800 construction jobs and support around 1,500 peak-season operating roles, while boosting Canada’s copper production by about 15 per cent.
The Red Chris mine was acquired by Newmont as part of its larger acquisition of Australian miner Newcrest in 2023. Earlier this year, Newmont said it would invest US$1.4 billion to develop assets acquired through its takeover of Newcrest.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Franklin Paul)
