Mt. Milligan Mine Life Predicted Longer
By 250 News
Thursday, October 15, 2009 03:59 AM

Prince George, B.C.- An updated study on the potential of the Mt. Milligan Mine has produced some very positive results.
The Feasibility Update Study (the "2009 Study") indicates there is more gold in the site than first thought, ( 31% more) there is more copper (33% more) and the life of the mine will likely be 22 years, which is 7 years more than had been first predicted.
The report says capital costs are holding steady at $915 million.
Terrane Metals, owner of the project, was granted a provincial Mines Act Permit last month. The project is currently being reviewed under the Canadian Environmental Assessment Act. That review is into the public comment stage which will accept comments on the project until October 31st.
The proposed development includes a mine pit, process plant, tailings impoundment area and dams, water intake and diversion systems, on-site mine haul roads, explosives factory and magazine facilities, and other associated mine buildings and infrastructure. The proposed project includes a 92-km transmission line and upgrade of the 29-km access road to the site.
Approximately 400 permanent jobs would be created if the mine is approved. The construction workforce would average 400 workers and peak at 700 workers.
If the approvals and permits are granted and financing secured, a decision on construction of the Mt. Milligan mine is likely in the first quarter of 2010.
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The Nechako River front would then become accessible to tourism in ways it never could now.
The downtown of PG would then have free access to grow along the river front, rather than in the sink hole... a river front unrivaled in Canada for its potential.
The water supply in PG would then become safe from derailment potential that could destroy the PG water wells that are all located along the river under CN rail lines.
The Bear Lake to Fort St James corridor could be opened up in a huge way to industrial development being on the main line and in appropriate air shed for that kind of activity.
We would be one step closer to a viable Alaska line.
Fort St James becomes a viable town long term.
PG is only 50km further from the Port of Prince Rupert is the only negative I can see.
Time Will Tell....