Western Copper and Gold Corporation just announced the results of an updated study on the potential economic impact of the Casino project on Yukon.
The Casino project, located about 380 kilometres northwest of Whitehorse, is estimated to contribute $9.7 billion to Canada’s Gross Domestic Product, create 51,373 full-time equivalent (FTE) positions, and generate $2.5 billion in wages and salaries. Note that the use of full-time equivalent positions (“FTEs”) is a method to account for partial employment or employment for different durations and 1.0 FTE is equivalent to a full-time job for one year of employment.
A Report estimates the GDP generated in Yukon by the construction of Casino at $363 million, or 14% of Yukon’s 2011 GDP. The construction phase is estimated to contribute $2.0 billion to Canada’s economy while generating 22,601 FTEs resulting in $1.1 billion in wages and salaries across Canada.
During each of its 22 years of operation, the Casino mine is expected to contribute $274 million to Yukon’s economy. Operation of the mine is estimated to contribute $350 million to Canada’s GDP annually while creating 1,308 FTEs and generating $61 million in wages and salaries across Canada.
The Casino project is also expected to generate $3.1 billion in taxes and royalties to various governments during the life of mine.