British Columbia works on strategy to secure billions in mining investments

[Redator]

Premier David Eby unveils mining investment plan on May 26 in Vancouver. Image from BC Gov Photos Via flickr.

British Columbia Premier David Eby outlined an approach to mining development in the province’s northwest that combines economic growth, reconciliation and conservation in a speech to the mining industry, First Nations and conservation organizations in Vancouver on Monday.

The vision, Eby emphasized, is to realize an opportunity for tens of billions of dollars in investment and thousands of jobs throughout the province.

British Columbia currently produces or has the potential to produce 19 of Canada’s 34 critical minerals essential to Canada’s economic independence and national security. BC has a rich copper endowment, with a range of porphyry, skarn, and massive sulphide deposits. The International Energy Agency highlights copper in particular demand, with a forecasted supply shortage by 2035.

Earlier this month, Mining Association of British Columbia (MABC) CEO Michael Goehring mapped opportunities for BC to become a global player in critical minerals markets after the 2025 Economic Impact Study was released, which identified 27 mining projects representing C$90 billion ($65 billion) in potential economic activity for the province.

In the coming weeks, the province said it will provide details on how the plan will be executed.

Key points of the strategy include working to complete consent-based agreements with First Nations; an inclusive expedited process to protect important lands and watersheds in partnership with First Nations that balances development of economic opportunities with investments in the social well-being and physical infrastructure of northern communities.

The plan also emphasizes working with other provinces and Ottawa to seek new trade agreements that prioritize BC’s minerals and metals; continuing government’s work to provide resources to speed up permitting while maintaining high environmental standards and BC’s commitment to reconciliation.

Building out BC’s clean electricity grid is a priority, as is powering new mines and mine extensions, and providing certainty and timeliness for investors through future regulatory and infrastructure policy changes and aligning approval processes for projects of provincial or national significance with Ottawa so that there is one project, one review.

“Here in British Columbia, economic development, conservation of precious water and land, and partnership with First Nations go hand-in-hand,” Premier Eby said in a news release on Monday.

“Our approach makes BC a world-class place to invest, and our province has all it takes to succeed in the face of global challenges. By working together to seize the potential in the northwest, we can also drive private-sector investment,” Eby said.

The Association for Mineral Exploration (AME) released a response to the announcement on Monday.

“Mineral exploration in Northwest BC supports thousands of workers and families throughout the province, and the development of every operating metal mine in BC started with a discovery by a prospector or junior mining company,” AME said.

“The province’s proposed strategy must quickly bring confidence and clarity with access to land for mineral exploration and development. To succeed, it must be an open and transparent process that includes the mineral exploration sector at the table with government, First Nations and other partners.

AME appreciates the transparent approach that the provincial government has taken at this very early stage and looks forward to receiving more detail.”