BC’s Association for Mineral Exploration (AME BC) lambasted Victoria Wednesday for failing to properly compensate miners in the province’s newly protected Flathead Valley.
The area, located in southeast B.C. next to Montana’s Glacier National Park, was protected from potentially damaging mining projects in an agreement with the U.S. a year ago.
The deal sent shockwaves through several mining companies that were operating in the area at the time, including Eastfield Resources Ltd. (TSX-V:ETF), MAX Resource Corp. (TSX-V:MXR) and Cline Mining Corp. (TSX:CMK).
Business in Vancouver caught up with the companies last summer ahead of a July compensation deadline.
At the time, the miners had yet to receive a penny from the provincial government for the amount of money they had already invested in the valley (See "No compensation for Flathead miners ahead of July deadline"– issue 1080; July 6-12, 2010.)
Now, seven months later, the provincial government has said the privately operated Nature Conservancy of Canada and the U.S.-based Nature Conservancy will cough up $9.4 million to protect the Flathead and address mineral, oil and gas and coal tenures.
"AME BC remains appalled by the lack of due process in reaching a timely and fair compensation agreement for the taking of mineral titles in the Flathead," commented Gavin Dirom, president and CEO of AME BC.
The association estimates the region contains as much as $7 billion worth of undeveloped sub-surface resources.
"This lack of leadership and lack of openness and transparency from our provincial government concerns us," Dirom added. "AME BC is hopeful that a new premier in B.C. will resolve this matter in a swift and fair manner."