VANCOUVER — The decision by the Canadian government to invest up to $130 million in the construction of the Northwest Power Transmission Line along Hwy 37 in British Columbia has mining companies cheering.
For Copper Fox Metals, a power line would provide critical infrastructure for the development of the Shaft Creek copper-gold project. Measured and indicated resources total 1.4 billion tonnes grading 0.25% Cu, 0.18 g/t Au, 0.019% Mo and 1.55 g/t Ag. (www.CopperFoxMetals.com)
Imperial Metals would take advantage of readily available electricity for its Red Chris copper-gold deposit. It contains 276 million tonnes of minable reserves at 0.35% Cu and 0.27 g/t Au. Construction would generate 600 jobs, and the mine would create 230 to 300 direct jobs and perhaps 750 indirect jobs. (www.ImperialMetals.com)
Romios Gold Resources, which is actively exploring in the Galore Creek area, also supports the new power line. (www.Romios.com)
The Mount Klappan coal project belonging to Fortune Minerals would be another beneficiary of a connection to the provincial power grid. Proven and probable reserves are 60.8 million tonnes at 10% ash. (www.FortuneMinerals.com)
The British Columbia government will build the power line, which carries a total price tag of $400 million. Construction could begin next year, and the line go into service in 2012.
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