B.C.’s mining sector is applauding the provincial government’s decision this week to approve BC Hydro’s Northwest Transmission Line project.
Wednesday, the provincial government approved the project (see “Northwest transmission line approved ” – issue 1114; February 24).
“We’re ecstatic,” said Byng Giraud vice-president, corporate affairs, Imperial Metals Corp. (TSX: III).
Giraud noted that the company would use the transmission line to power its Red Chris mine. Had the transmission line not been approved, he said, the company would have had to build its own distribution line.
“Our project would have still have gone ahead, but this is a superior energy option,” he said, noting that it will benefit the whole region.
In a company press release, Imperial noted that it hopes to be the first customer to access the power line upon completion, which is planned for 2013’s fourth quarter.
The Mining Suppliers Association of BC (MSABC) has also given its support for the provincial government’s decision to approve the transmission line. In a press release, MSABC commented that many large operating mines in B.C. have low-grade deposits and require access to power to be economically viable.
“There are at least six mining projects with completed bankable feasibility studies that stand to benefit from access to this transmission line, MSABC president and CEO Terry Mulligan said in the release. “If these projects proceed, they will create thousands of jobs for the companies that supply mining operations in B.C.”
The MSABA release noted that a 2009 study by the Northwest Power Line Coalition found that the transmission line could potentially attract more than $15 billion in investment, create 10,700 jobs and generate $300 million in annual revenue for governments.