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Mining and Energy Sector
British Columbia's mineral exploration and mining industry is an integral part of the provincial economy, and this industry has potential for major growth in Northern BC. There are currently nine operating mines in Northern BC, four of which are in the North-Central Region in which Prince George is situated.
Five mines are now under development in Northern BC and with 17 proposals for new mines and quarries submitted to government for review and approval with good reason to anticipate more developments in the region over the next five years. There are also a number of advanced exploration projects completing feasibility studies and considering proposals for mine development.
Exploration expenditures in Northern BC accounted for 66% of total provincial exploration expenditures in 2007, with $275.1 million spent. $94.6 million was spent in the North-Central region in 2007 on more than sixty exploration projects.
Oil and Gas investment in BC reached $4.6 billion in 2006. While the Northeast Region of BC is currently the only area of the province producing commercial quantities of oil and gas, other parts of the province contain significant quantities of sedimentary rock that may be productive in the future. The Bowser and Nechako Basins, to the Northwest and Southwest of Prince George, contain areas of high oil and gas prospectivity.
| TRANSPORTATION INVESTMENT | OPPORTUNITY |
| Taseko Mines Gibraltar Copper Mine expansion ($62m) | Mining resource expansion (2008+) |
| Terrane Metals Mount Milligan Copper Gold Mining project ($827m) | New copper/gold mine development (2010) |
| Pinnacle Pellet Wood Pellet Plant expansion ($15m) | Green energy production (2008) |
| Kitimat Cascadia Aggregate Processing and Export Terminal ($70m) | Aggregate recovery and processing, port expansion for 4tonne shipments annually (2008+) |
| Dawson Creek Bear Mountain Wind Park project ($240m) | Energy production, turbine manufacturing |
| Thompson Creek Metals Endako Mine expansion ($373m) | Molybdenum production (2008+) |
| Enbridge Northern Gateway Pipeline ($4b) | Crude oil from northern Alberta to China via Kitimat (2012-2014) |
| Mackenzie Green Energy Centre ($225m) | 59 megawatt electrical power production from biomass |
Estimates of marketable conventional natural resources that remain to be discovered in the Northeast vary from between 26 to 44 trillion cubic feet, and it is estimated that up to 145 million barrels of recoverable oil remain undiscovered in the region.
Prince George is a major service and supply centre for natural resource activities in Northern and Central BC, and there is significant capacity available to provide for the requirements of the growing mining and oil & gas industries in the region.
We will be hosting the 2010 Minerals North conference April 21 - 23, 2010. See you there!
GROWTH SECTORS | MINING AND ENERGY | ADVANCED MANUFACTURING | TRANSPORTATION AND LOGISTICS
