Mining
BCSC rejects tech report from Barkerville Gold
The BC Securities Commission (BCSC) halted trading in Barkerville Gold Mines Ltd. (TSX-V:BGM) stock after rejecting the company’s August 13 technical report. Market watchers have been waiting for the report, which details the methodology behind the company’s massive gold estimate at its Cow Mountain project. The BCSC said the report “was not prepared in the required form.” Its order requires that all trading in Barkerville securities halt until the company files a technical report completed in accordance with the Securities Act.
Forestry
Tackle timber loss with “marginal” forests: report
B.C. should harvest “marginally economic forest types” as part of its strategy to boost the province’s timber supply in the wake of the pine beetle infestation, according to a new B.C. government report.
The Special Committee on Timber Supply report proposes some solutions to offset the loss of timber in B.C.’s central Interior over the next 20 to 60 years. It advocates making better use of marginal forests “that are accessible and otherwise available for harvesting but are not merchantable because of small piece size … decay and species composition.”
Mining
Low prices shut down Endako mine
Thompson Creek Metals Company Inc. (TSX:TCM) is shutting down mining its Endako mine and reducing staff as it grapples with low molybdenum prices.
Jocelyn Fraser, the company’s director of corporate responsibility, told Business in Vancouver that the move is a cost-control measure. “We’re going to stop open-pit operations for a short period of time,” she said. “During that time the mill will continue to process stockpiles, and we’re going to focus on optimizing performance and recovery of the new mill that we recently commissioned there.”
Forestry
Province boosts Burns Lake reforestation
The hard-hit Burns Lake forestry region is getting some help from the provincial government, which plans to invest $3.4 million in the Nadina district for reforestation, timber supply mitigation, forest health and inventory. Reforestation plans include planting 17,000 seedlings and fertilizing 4,500 hectares of timber to produce 90,000 cubic metres of timber over the next 20 to 60 years. The area has been hard hit by the pine beetle infestation, and its Babine sawmill – the town’s major employer – was destroyed in a fire seven months ago.
Oil and Gas
Study looks at B.C.’s Northern Gateway jobs
While B.C. might not get the oil royalties from the Northern Gateway pipeline that Alberta will get, a new Canadian Energy Research Institute (CERI) study suggests it would benefit more than Alberta in terms of job creation and overall gross domestic product.
According to the CERI report, the construction and operation of the Northern Gateway pipeline to Kitimat would generate $8.9 billion in gross domestic product for Canada over the next 25 years. Of that, $4.7 billion would go to B.C., $2.9 billion to Alberta and $608 million to Ontario.
