Mt. Milligan In Pubilc Consultation Period
By 250 News
Wednesday, November 05, 2008 03:56 AM
Prince George, B.C. – Terrane Metals Mt. Milligan project is undergoing an environmental review process and is currently in its public comment period which started October 2 and ends on November 16, 2008.
The environmental review process includes a Provincial environmental assessment led by BC Environmental Assessment Office and a federal EA process led by the Canadian Environmental Assessment Agency.
Glen Wonders, VP Corporate Relations and Sustainability for Terrane Metals is not concerned about passing the environmental assessment, “We have done a very comprehensive job on this project. We have a 12,000 page document which outlines data that existed before we took over the project and new material we discovered. We reduced the footprint by 30 percent to follow the goals of easy closure and few environmental liabilities. We have designed it so there will never be water discharged into the environment, it is very contained.”
Wonders says the dramatic change in the economy the last few weeks is a concern in terms of financing, “The project when all is said and done will be approximately one billion dollars. We do have a $40 million guaranteed loan from Gold Corp which will enable us to start building some things but we are still looking for other means of financing for the rest of the amount. We didn’t forecast the recent changes in the economy, but as long as it is not indefinite we can sustain prices for awhile. Our prices are still above average with $1.60 per pound for Copper, $5.50 for Gold and Canadian dollar at .85cents.”
Wonders says the biggest concern throughout the open houses has been with employment, “Many of the smaller communities and unemployed mill workers are inquiring about career opportunities as we will need equipment operators, skilled trades and professionals. It will create 400 direct jobs at first and then 18-20 months into construction we will reach approximately 700 employees.
Although the project could be cleared in the first quarter of 2009, it will still require a number of permits as there are three stages of permitting; the first two environmental and the third functional. Terrane has allowed for a 30 month construction window and then expects operations to commence in 2012 with 15.3 years of mine life.
Terrane has scheduled an open house in Mackenzie today and will meet with McLeod Lake Indian Band on November 6.
Previous Story - Next Story
Email
Print
Facebook
Twitter
Digg
Del.icio.usReturn to Home
Posted by: Mercenary on November 5 2008 5:49 AM