Premier Christy Clark yesterday announced $1.36 billion worth of investment from China in two major B.C. mining projects that will create an estimated 6,700 jobs.
“This investment clearly shows how confident China is in British Columbia’s world-class mining resources and strong investment climate,” said Clark.
One investor is the Canadian Kailuan Dehua Mines Co. Ltd. – a partnership formed in July 2010 between the Kailuan Group Co. Ltd., Shougang Group and Canadian Dehua International Mines Group Inc.
Canadian Kailuan Dehua is planning to develop the Gething coal mine, 25 kilometres south of Hudson’s Hope.
Nie Baozhong, general manager of Canadian Kailuan Dehua, said “The construction of Gething Project will bring benefits to other industries in B.C. as well, such as the building materials industry, machinery and maintenance industry.
The company’s total investment is estimated to be $860 million.
Construction is scheduled to begin in about two years after the environmental assessment, permits and First Nations and community consultations are complete.
The coal mine should have a life of more 40 years, and the company projects a production rate of two million tonnes of washed coal per year.
The second investment is by the Shandong Energy Feicheng Mining Group Co. Ltd. and Canadian Dehua International Mines Group Inc.
These companies have signed a co-operation agreement and will commit $500 million to the project in its early phase.
Jennifer Harrison
@JHarrisonBIV