Re: New Gov?
in response to
by
posted on
Oct 22, 2015 10:37AM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
I might have thought the same thing Prospekt, applying under the streamlined rules would theoretically make the EA approval happen faster. But I recall someone (I think explorationguy) saying that the EA couldn't be submitted until the size of the mine was worked out, which won't happen until the optimization studies have wrapped up.
Assuming this is the case, and assuming the optimization work will be completed before Christmas, then Teck can book the reserves and still apply for the EA under the present streamlined process.
Even with the majority government, it will take time to make legislative changes, as these things happen through a multi-step process. It did for Harper under the same conditions. I would think we would be looking at 2017 at least before anything would become legal. If the newly minted government was smart, they might also look at what didn't work under the old rules and take this opportunity to properly balance the consultation that is needed for any EA with a minimum of red tape. I thought the prov/fed harmonization in BC made perfect sense as the review could happen concurrently, and any issues could be addressed efficiently. From my own work I am well aware of the pressure to enforce federal regs under NAFTA so its not like these get trumped by provincial regs.
One of the things that takes the most time is the collection of baseline monitoring data and this has continued to be done while we wait, resulting in what I'm guessing to be a solid case of data that will be declared "more than ok" when it comes to EA review. Having the Tahltan do the collections was brilliant for so many reasons.
K