B.C.’s Red Chris mine secured $500 million in taxpayer funding despite an apparent link to Prime Minister Mark Carney’s financial interests: majority owner Newmont Corporation appears on his conflict-of-interest screen.
Last September, Carney designated Red Chris, near the B.C.-Alaska border, a “nation-building” project eligible for fast-tracked approvals. The $2.77 billion expansion is expected to boost Canada’s copper production by 15 per cent.
Colorado-based Newmont owns and operates 70 per cent of Red Chris, while Vancouver-based Imperial Metals holds the remaining 30 per cent.
Newmont, the world’s largest gold producer, is also the only gold producer listed on the S&P 500.
