Newmont (NYSE: NEM) has secured the regulatory approvals it needs to push its Red Chris project in northwest British Columbia underground, clearing one of the larger hurdles standing between the copper and gold mine and a multi-decade extension of its operating life.
The BC government has granted an amended Environmental Assessment Certificate and an amended Mines Act permit for the Red Chris Block Cave project, the company said Friday. Together the authorizations allow the operation to shift from its current open pit configuration to block caving, a method that lets Newmont mine the deposit from below and keep production running into the mid-2040s.
The environmental certificate was reached through a consent-based process with the Tahltan Nation, whose traditional territory overlaps the mine site. British Columbia has described the file as the second assessment completed under a Section 7 agreement with the Tahltan Central Government, a framework tied to the province’s Declaration Act.
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“The Red Chris Block Cave project represents a compelling long-term opportunity and today’s approvals mark a significant milestone in stage-gating as Newmont progresses toward a final investment decision later this year,” said Natascha Viljoen, President and Chief Executive Officer. She pointed to the region’s clean hydroelectric power, and port access as factors turning the area into a world class mining district.
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The approvals do not yet commit Newmont to building anything. The company is finishing a Definitive Feasibility Study and a detailed cost estimate, with a final investment decision expected before year end. British Columbia has pegged the capital cost in the billions.
Once running, the expansion would lift ore throughput to as much as 15 million tonnes a year and increase Canada’s copper production by roughly 15 percent. Newmont estimates the build would generate more than 1,800 construction jobs and sustain about 1,500 peak season operating roles.
Red Chris also sits inside Canada’s federal major projects framework. The mine was referred to the newly created Major Projects Office in September 2025, among the first projects named under Prime Minister Mark Carney’s effort to speed up reviews of nationally significant developments. British Columbia separately counts it among 35 priority major projects in the province.
The milestone landed in the same week as trouble at another Newmont operation. A seismic event struck near the company’s Cadia mine in New South Wales on June 19. All underground workers were brought to surface safely with no reported injuries, and Newmont said inspections found no damage to infrastructure. Operations resumed over the weekend following a staged restart.
Newmont last traded at $103.79 on the NYSE.
