YUKON – The latest report on the potential economic impact of the Casino gold-copper-molybdenum-silver project 300 km northwest of Whitehorse is impressive, says owner Western Copper and Gold Corp. of Vancouver. During the construction and operation of the mine and mill is anticipated to create 51,373 full-time equivalent jobs.
A “full-time equivalent” is a method to account for partial employment or employment for different lengths of time. One FTE is equivalent to a full-time job for one year.
Moreover, the Casino project is anticipated to contribute $9.7 billion to Canada’s GDP and generate $2.5 billion in wages and salaries. The construction of the $363-million project will represent 14% of the Yukon’s 2011 GDP. The project will also contribute $2 billion to Canada’s GDP and generate $1.1 billion in wages and salaries across Canada during construction.
Each year over the 22-year life of the mine and mill, Casino is expected to pour $274 million into the Yukon economy, add $350 million to the Canadian GDP, and generate $61 million in wages and salaries. It will also generate $3.1 billion in taxes and royalties to various governments.
Western chairman and CEO said, “In addition to the great economic benefit, the Casino project will provide other benefits such as training, education, and infrastructure, which will benefit the Yukon over the longer term.”
Western plans to begin producing from heap leached material in 2017 and from a concentrator in 2019. See also WesternCopperAndGold.com.