EXCLUSIVE: Carney's conflict screen linked to $500M Red Chris mine subsidy
Ottawa approved $500 million for the Red Chris mine after its majority owner, Newmont Corporation, appeared on Prime Minister Mark Carney's conflict-of-interest screen.
B.C.’s Red Chris mine landed $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, as one of Canada’s “nation-building” projects, promising fast-track approvals. The mine, which opened in 2015, is being expanded into a $2.77 billion underground block-cave operation expected to increase Canada’s copper production by more than 15 per cent.
Red Chris is 70 per cent owned and operated by Colorado-based Newmont Corp., while Vancouver-based Imperial Metals owns the remaining 30 per cent.
“This is a direct conflict unrelated to Brookfield or the S&P,” political commentator Moose on the Loose wrote on X. Newmont is also the world’s largest gold producer and the only one listed in the S&P 500.
