More than 150 years have passed since rumours of gold in the Fraser River brought thousands of prospectors to B.C., and the steady stream of miners into this province has yet to let up.
With 19 metal and coal mines across the province, three under construction and hundreds of active exploration projects, it’s fair to say that a renaissance is underway in B.C.’s mining sector.
Despite the good news, the province continues to struggle with a reputation for land disputes that make national headlines.
Although miners spent hundreds of millions of dollars exploring for metal and mineral treasure in B.C. last year, Victoria also kicked miners out of the Flathead Valley in southeast B.C. where a de facto park has since been created.
2010 also saw the federal government reject Taseko Mines’ (TSX:TKO) proposed Prosperity mine near Williams Lake.
Ottawa cited environmental concerns for the rejection, and it followed a lengthy campaign by environmentalists and First Nations to block the project.
Meanwhile, B.C.’s largest miner, Teck Resources (TSX:TCK.B), posted record annual revenue and operating profits in 2010 thanks to strong copper and coal prices.
Elsewhere in the coal sector, Vancouver’s Western Coal (TSX:WTN), which operates mines in northeast B.C., announced its takeover by Tampa’s Walter Energy (NYSE:WLT) for $3.3 billion.
On Vancouver Island, Compliance Energy received notice that its Raven coal project would not be subject to a federal panel review during its environmental assessment process, though community groups and the shellfish industry have raised concerns about the project.
Up north, Avanti Mining (TSX-V:AVT) entered the environmental assessment process in a bid to resurrect the Kitsault molybdenum mine, which was abandoned in the early 1980s.
Meanwhile, Barkerville Gold Mines (TSX-V:BGM) started pouring gold at its QR mine in the heart of Gold Rush country, while Roca Mines (TSX-V:ROK) struggled with sloughing walls at its Max molybdenum mine near Revelstoke.
On the construction front, Thompson Creek Metals (TSX:TCM) broke ground at its Mt. Milligan mine near Fort Nelson, while New Gold (TSX:NGD) continued building its New Afton project near Kamloops.
Copper Mountain Mining (TSX:CUM) was hard at work resurrecting the old Similco mine near Princeton last year, and now the project is only months away from production.
Despite a few hiccups in 2010, B.C.’s miners are optimistic that the sector will continue to thrive in 2011.