By Robb M. Stewart
Newmont secured the regulatory approvals needed for a shift to underground mining at a gold and copper operation in Western Canada, a move that will extend the life of the mine.
The world's largest listed gold producer said Friday that it received approval from the province of British Columbia of key environment authorizations that will allow it to move to block caving at the Red Chris mine from the current open-pit operations. That paves the way for the mine life to run into the mid-2040s, Newmont said.
The green light from British Columbia marks a significant milestone in the process and helps Newmont move toward a final investment decision on the project later this year. It comes at a time when the price of gold, while down from highs earlier in the year, remains elevated.
Newmont said the province's approvals include an amended environmental assessment certificate and an amended Mines Act permit.
"With significant mineral endowment, availability of clean hydroelectric power, port access, supportive governments, and strong Indigenous economic leadership, northwest British Columbia is emerging as a world-class mining district," President and Chief Executive Natascha Viljoen said.
The company is completing a definitive feasibility study and detailed cost estimate for the Red Chris block cave, a large-scale underground mining method that extracts ore. Newmont said the project is expected to generate more than 1,800 construction jobs, sustain about 1,500 peak-season operating roles and increase Canada's copper production by roughly 15%.
Located in northwest British Columbia, Red Chris is majority owned by Newmont and 30% held by venture partner Imperial Metals. Mining at the operation began in 2015.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
June 19, 2026 12:55 ET (16:55 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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