BRITISH COLUMBIA – Vancouver-based BCMETALS CORP. has awarded the engineering, procurement and construction management (EPCM) contract for its Red Chris mine to AMEC AMERICAS and MERIT CONSULTANTS INTERNATIONAL. The contract will be finalized after board approval and financing arrangements with Investec Bank (UK). The Government of British Columbia must make a commitment to extend the power grid to Iskut before bcMetals can draw down the loan it has arranged.
Red Chris today is the largest new Cu-Au open pit development in North America. As designed in the AMEC feasibility study, it is a 30,000-tonnes/day mine and flotation concentrator located 12 km east of Highway 37 and 18 km south of the village of Iskut. Over the course of the planned 25-year mine life, the project will produce 1.85 billion lb of copper and 1.187 million oz of gold in concentrates beginning in late 2007. Construction will begin when the B.C. government issues an environmental permit for the project.
Further information is available at www.bcMetalsCorp.com.