Canada commits $352 million to Red Chris Mine expansion in British Columbia
2026-07-06 10:59:24 [Print]
The Canadian government confirmed on Thursday C$500 million (approximately US$352 million) in financial backing for the Red Chris Block Cave expansion project in British Columbia. The investment forms part of a broader federal push to accelerate major mining developments across the country.
"We will invest C$500 million to expand the Red Chris mine, which will increase Canada's annual copper production by more than 15%, support critical minerals demand for clean energy and manufacturing, and reduce greenhouse gas emissions by over 70% once operational," the government stated.
The Red Chris porphyry deposit, located in BC's renowned Golden Triangle region, hosts substantial mineral resources, with an estimated 20 million ounces of gold and 13 billion pounds of copper across measured, indicated, and inferred categories.
Newmont, the world's largest gold miner, holds a majority interest and serves as the operator of Red Chris, in partnership with Canada's Imperial Metals, which retains a 30% joint venture stake.
Last month, the project secured key regulatory approvals, clearing the way for a transition from open-pit to underground mining and extending its operational life into the mid-2040s.
"We will invest C$500 million to expand the Red Chris mine, which will increase Canada's annual copper production by more than 15%, support critical minerals demand for clean energy and manufacturing, and reduce greenhouse gas emissions by over 70% once operational," the government stated.
The Red Chris porphyry deposit, located in BC's renowned Golden Triangle region, hosts substantial mineral resources, with an estimated 20 million ounces of gold and 13 billion pounds of copper across measured, indicated, and inferred categories.
Newmont, the world's largest gold miner, holds a majority interest and serves as the operator of Red Chris, in partnership with Canada's Imperial Metals, which retains a 30% joint venture stake.
Last month, the project secured key regulatory approvals, clearing the way for a transition from open-pit to underground mining and extending its operational life into the mid-2040s.
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