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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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Comments

I really like that map. From the map it looks clear as day to me that the CN line should run from Fort St James to Vanderhoof and this should become the new mainline... it would change the north for the better in more ways then any other single investment possibly could IMO.

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....
Good news in spades!
The meeting with the feds for the final permit/s takes place tomorrow, and expectations are high that this will go well.
This a well thought out new mine and a very well run company.
No pump and dump,no hype,just hard work and very high standards on environmental issues.
To say that this will be a economic boon to the entire area is an understatement!
Share prices have increased into the high .80 cent raise over the the last week in anticipation of the final hurdles being cleared and this becoming a reality.
Aprox.650 jobs during construction and 300 permanent jobs after they start digging.
Then we have the spin-off jobs that will surely come.
Great economic news to be sure!
And let's not forget the Highway 37 project!
That is the key here,and this is only one example of what it can do for the entire area!
While there are those who oppose the Mt.Milligan project for dubious and self-serving reasons,there is no denying it WILL benefit all!
And that is what it all about!
Agreed. One thing much of the anti-mining crowd seems to forget is that much of the raw materials that go into those fancy electronics and conveniences of life most of us have had to come from somewhere!
CVE:TRX Buy and you will not regret it!

Terrane on BNN:

http://watch.bnn.ca/#clip223557
Agreed. One thing much of the anti-mining crowd seems to forget is that much of the raw materials that go into those fancy electronics and conveniences of life most of us have had to come from somewhere!


And the hell with the planet at any cost!! Hoooorahhhhh!
"And the hell with the planet at any cost!! Hoooorahhhhh!"

Do you live in a mud hut? How do you access the internet? With smoke signals?

I didn't think so.
'Approximately 400 permanent jobs would be created if the mine is approved.'

You know how many of those permanent jobs are going to go to local First Nations, for the benefit of their families and their community?

Zero.

That's because the FN 'leaders' and their consultants will channel the grizzly bears, and eagles and ducks and all the things that white people can't possibly know anything about, and spike this project.

Then those same 'leaders' and their self-serving consultants will complain about conditions 'for their people'.
What would the cost be to re-route the CN mainline from Prince George to Ft.St.James and reconnect to the existing CN mainline west of Ft.St.James?

It costs about 15 million dollars for each new kilometer of new rail.Now it would be somewhat cheaper to build on an existing grade but you would have to consider that the former BCR is not like the CN or any other class one railroad! Much of the BCR trackage between Prince George and Ft.St.James have 1% to 2.2% grades which are too steep for mainline trains.The curvature of the track is too high for mainline trains.All of this would add to the price of upgrading this portion of track.
So lets say its 10 million per kilometer. How much trackage would have to be built?Probably about 200 kilometers, 10 million X 200 km equals 2 billion! Plus there are bridges to rebuild.A new railyard would have to be built at probably Salmon Valley,that would cost another 500 million!
Thats 2.5 billion and were not even dealing with the natives yet!
And that only gets us to Ft.St.James!
Then theres the costs of reclaiming all the lands that this would fee up. 100's of millions?Then we would have to deal with the natives again as this land would again be claimed by the natives!
Now this being said I agree with Andyfreeze 100% but who's gonna pay?
The CN Rail line will never be re routed around Prince George. This is a fantasy pure and simple.

CN has run through Prince George to Pr Rupert, and East to Edmonton etc for 100 years without any problems.

There would have to be a business case to make any significant changes, and there is none.

Access to the River in Prince George will become better if the CN moves most of its operation to the BC Rail site. Even if it doesnt happen it is still easy to access the Nechako.
Some valid points by all....
First Nations have already been offered jobs and I think many will in fact take advantage of that,but what remains to be seen is the attitude that their leadership will take when it comes down to the crunch.
And there is no question, a leader or a consultant who is drawing a paycheck may indeed have a different perspective on the mine than someone who does NOT have a job.
I can't speak for them,but I do believe that many first ntions will want to have a good paying job this close to home, and I also believe they will get them.
Leadership must put themselves in the shoes of those who have so little if they are to be considered true leaders and not simply self-serving.
They themselves must be a part of the solution, as opposed to creating a problem.
This is about economic benefits to everyone!
MrPG ...that is your response to just about everything on here. I would be willing to make due without the internet, you and yes even live in a mud house as you put it if it meant saving this planet. Everytime industry is set to rape the earth people like you sit on your arses and drink the kool-aid and believe it is good for us because it will create jobs. We continously fool ourselves into believing things like the tar sands are a good thing even though they prove to be devastating to the planet. Think and please while you are at it...find a different response already!!
Shellshadow, firstly... I was not talking to you. Secondly, if I have to put up with your opinions, you have to put up with mine. Deal with it.
"We continously fool ourselves into believing things like the tar sands are a good thing even though they prove to be devastating to the planet."

Great. Stop driving your car. Don't like mines? Stop buying items that result from mining. Tough to do, isn't it?
I wonder how loud people would holler if we stopped mining,stopped producing oil and gas,stopped building dams for hydro,etc.etc.etc.
We would not survive long.
Some things are necessary evils and while we may have to have them,we have the ability to do it right.
None of these things need to be an environmental disaster,we have the technoloy to stop that from happening!
LOL Mr Pg you are amazing really. *grin
Maybe if we stopped producing these things we would be FORCED to find alternatives. :}
I appreciate the way you care about the planet Shellshadow and thank you for speaking up for me.
CaringSoul please tell us the alternatives, please, this I got to see. Open up your Suzuki manual and show us.
The mine life will be infinite because the Fort St James band will tie this up in court until the investor throws up their hand and says bye
Mt. Milligan mine?

Gold doesn't happen on mountains. Please explain that part.
Caringsoul and Shellshadow - please tell us what lines of work you are in so we can point out the money trail from natural resources to your "holier than thou" attitudes.
You know the irony here is that the anti mining crowd are typing on computers with copper and gold components as well as they probably have gold and diamond wedding rings as well....There is one simple solution to stop projects that extract resources.. Stop being a consumer!! And when you stop being a consumer and want to live in your mud and stick house i will make sure you submit me an environmental submission as well make sure all your permits are in place..
"LOL Mr Pg you are amazing really. *grin"

If that's your way of saying that I make good points, then I'll take that. Thanks!