Newmont invests $5.8M in Tahltan Nation communities in British Columbia

[Redator]

Newmont (NYSE: NEM, TSX: NGT) commemorated the 10th anniversary of the Red Chris mine in British Columbia and the successful co-management with the Tahltan Nation by announcing an C$8 million ($5.8 million) community investment to benefit the Tahltan communities of Telegraph Creek, Dease Lake and Iskut.

The world’s biggest gold miner acquired Red Chris in 2023 when it bought Australia’s Newcrest in a $17 billion deal, and has since been eyeing further expansion in the mineral-rich Canadian province.

Red Chris is an open-pit copper and gold mine that employs around 220 Tahltans and generates approximately C$100 million annually in business with the Tahltan Nation Development Corporation (TNDC).

The mine pays annual royalties to the Tahltan Heritage Trust and contributes mineral tax revenue to the Province of British Columbia, which is shared directly with the Tahltan Nation. The Red Chris mine is managed in partnership with Tahltan Nation through an impact benefit and co-management agreement ensuring that Tahltan expertise, perspectives and values guide the operation, and serving as a leading example of reconciliatory resource development.

Aerial view of the the Red Chris mine in British Columbia. Image courtesy of Newcrest Mining.

“We know that our projects and operations can only succeed when the communities that host them are also thriving,” Newmont CEO Tom Palmer said in a statement.

“Today, we celebrate our partnership with Tahltan Nation and shared stewardship at Red Chris. Through this community contribution we extend our gratitude for the collaboration Tahltan Nation has helped to foster here as we also show our commitment to a shared vision and shared prosperity for the future.”

The investment funds a range of projects aimed at improving community well-being, including development of community-use spaces, recreation facilities and greenhouse space, the company said, adding that a portion of the investment will also support planning and pre-development efforts to improve housing in each community.

“This $8 million contribution gets us started on a series of projects that will enrich all our communities,” Tahltan Central Government president Beverly Slater said. “It is another step toward ensuring every Tahltan child, youth, adult and elder directly benefits from resource development in our territory.”