 |
 | |
 |  |
| We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level. |
Does anyone have any information regarding this company? -------------------------------------------------------------------------------- Friday March 20, 2:22 pm Eastern Time Company Press Release SOURCE: Redfern Resources Ltd. Redfern Resources Ltd. Announces Government Approves Tulsequah Chief Mine In Northwestern B.C. VANCOUVER, March 20 /CNW-PRN/ - The British Columbia government has officially approved Vancouver-based Redfern Resources Ltd.'s proposal to re-open the historic Tulsequah Chief underground mine in northwestern B.C. Energy, Mines and Northern Development Minister Dan Miller and Environment Minister Cathy McGregor signed the Project Approval Certificate for the Tulsequah Chief Project yesterday in Victoria, culminating a 3 1/2- year environmental review process. Redfern had invested more than $8 million since 1995 to meet the technical, environmental and public consultation requirements of the B.C. Environmental Assessment Act and the Canadian Environmental Assessment Act. ''Environmental reviews in British Columbia today are among the most rigorous and stringent in the world,'' explained Redfern Chairman John Greig. ''So, as one of the first mine proposals in the province to be fully reviewed under B.C.'s Environmental Assessment Act, we believe the Tulsequah Chief may be the most exhaustively studied mining project in B.C. history.'' ''Redfern believes the Tulsequah Chief will become a world-class mine that will restore public confidence in the mining sector, and serve as a model of environmentally and socially responsible mineral resource development.'' Receipt of the Project Approval Certificate will enable Redfern to complete financing arrangements, and to begin the process of acquiring routine permits for the construction and eventual operation of the mine. The company pledged to continue to work closely with government agencies, the Taku River Tlingit First Nation, the residents of Atlin and other northern communities to meet and exceed B.C.'s high environmental standards. ''We have worked very closely with local communities over the past 3 1/2 years, particularly the Taku River Tlingit First Nation, to ensure that the Tulsequah Chief Project achieves local priorities for environmental protection, as well as for economic and social development,'' Redfern President Terry Chandler said. ''We fully expect those relationships to continue in the future, to ensure that the construction, operation and reclamation of this mine respects local priorities and concerns, and maximizes local benefits.'' The Tulsequah Chief Project will re-activate a historic underground mine, 100 km south of Atlin, B.C., in the northwestern sector of the province. The project will produce zinc, copper, lead, gold and silver concentrates for at least nine years, with the potential for a much longer mine life based on as yet unexplored reserves. The high-grade base and precious-metal rich massive sulphide deposit contains an estimated reserve of 7.9 million tonnes, grading 6.35% zinc, 1.23% copper, 1.18% lead, 2.42 g/tonne gold and 100.91 g/tonne silver. Project economics are viable at current metal prices, and are very favourable using projected long-term average prices for all five revenue metals. The Tulsequah Chief Project will support a total of 1,100 direct and indirect jobs during the two-year construction phase, and 600 direct and indirect jobs during mine operations. The mine will also generate $190 million in government revenues, a construction payroll of $40 million, an operations payroll of $15 million annually, and annual supply and service expenditures of $32 million. Capital investment in British Columbia as a result of the Tulsequah Chief Project will total $160 million, with $148 million required for construction costs and an additional $12 million for working capital. Redfern is currently in discussions with potential joint venture partners to secure project financing. Once in place, the company will initiate a 27-month construction project, which could allow the first shipments of mineral concentrate from the Tulsequah Chief by year end 2000. ''The Tulsequah Chief Project is proof that mineral resource development that protects the environment, while creating jobs, investment and economic development is welcome in B.C.'' Greig said. ''By approving this project, the provincial government has demonstrated its support for the mining industry, for sustainable economic development in the north and for mine projects that meet B.C.'s high environmental standards.'' REDFERN RESOURCES LTD. John A. Greig, Chairman SOURCE: Redfern Resources Ltd. | ||||||||||||||
|
| Home | Hot | SubjectMarks | PeopleMarks | Keepers | Settings |
| Terms Of Use | Contact Us | Copyright/IP Policy | Privacy Policy | About Us | FAQ | Advertise on SI |
| © 2026 Knight Sac Media. Data provided by Twelve Data, Alpha Vantage, and CityFALCON News |