BC Greenlights Red Chris Block Cave Expansion — Newmont Eyes $3 Billion Final Investment Decision

23 June 2026
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Newmont Corporation

NYSE: NEM | ASX: NEM | PNGX: NEM

By Jamie Hyland | MiningIR

British Columbia has granted key regulatory approvals for the expansion of the Red Chris copper-gold mine, marking a pivotal milestone for one of Canada’s most important copper development projects. The approvals clear the path for the mine’s transition from open-pit operations to large-scale underground block caving, as Newmont moves toward a Final Investment Decision (FID) anticipated later this year. If approved, the expansion would rank among the largest mining investments in Canadian history.

The approval covers an amended Environmental Assessment Certificate and necessary changes to the Mines Act permit, allowing Newmont — which owns 70% of the project in a joint venture with Imperial Metals — to begin full-scale development of the block cave beneath the existing open pit.

BC Minister of Mining and Critical Minerals, Hon. Jagrup Brar, framed the approval as both an economic and reconciliation milestone. “Red Chris expansion project is a priority mining project for British Columbia, and its approval reflects our commitment to responsible resource development that delivers real benefits for people across the province. This approval is the result of strong collaboration between the Province and the Tahltan Nation, demonstrating that First Nations partnerships advance major projects in a way that respects rights, builds trust and strengthens shared prosperity.”

The numbers behind the project are hard to ignore. The expansion is expected to boost Canada’s copper production by around 15% and create more than 1,800 jobs during peak construction, while supporting about 1,500 existing permanent roles. The Red Chris copper-gold porphyry deposit contains an estimated 20 million ounces of gold and 13 billion pounds of copper across its measured, indicated, and inferred resources.

The technical case for the transition is straightforward. Block caving is an underground mass mining method that undercuts large ore bodies and allows gravity to fragment and draw down material into collection points. It is used at Red Chris because the porphyry copper-gold deposit extends to depths well beyond the economic reach of open-pit operations, and the ore body’s size, continuity, and rock mechanics characteristics make it well-suited to gravity-driven bulk extraction at low operating cost per tonne.

The federal government has also put capital behind the project. Up to $44.2 million was conditionally approved for Northwest Transmission Line system upgrades, which will enable the supply of up to 145 megawatts of power for the Red Chris copper mine expansion. Once operational, the project is expected to reduce greenhouse gas emissions by over 70%, aligning with Canada’s clean energy and climate goals.

The authorizations came after a collaborative assessment process with the Tahltan Central Government under a Section 7 consent-based decision-making agreement with the Tahltan Nation. Kerry Carlick, President of the Tahltan Central Government, addressed critics of Indigenous rights recognition directly: “Some have questioned whether recognizing Indigenous rights would make it harder to advance major projects in British Columbia. Today’s announcement provides a clear answer.”

The most recently published capital expenditure for the Red Chris mine was an estimated $2.6 billion, outlined in a 2021 prefeasibility study from Newcrest Mining, which Newmont acquired in 2023. With inflation adjustments and updated scope, analysts have pegged the total investment closer to $3 billion — hence the headline figure now circulating across BC’s mining community. Cim

For Newmont CEO Natascha Viljoen, the approvals validate the company’s strategic direction. “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.”

The project is projected to increase Canada’s total copper production by approximately 15%, making it one of the most significant single additions to Canadian copper supply in recent history. Against a backdrop of tightening global copper markets driven by electrification, AI data centres, and EV demand, that supply addition carries strategic weight well beyond the province’s borders.

Northwest British Columbia, with its combination of world-class copper and gold assets, clean hydroelectric power, coastal port logistics, and an Indigenous governance framework increasingly oriented toward resource partnership, is positioning itself as one of the most strategically significant critical minerals corridors in the Western Hemisphere.

The FID is now the critical watch item for investors. It is targeted for later in 2026, subject to the completion of the definitive feasibility study and detailed capital cost estimate — the final technical and financial prerequisites before a board-level capital commitment can be made.

Red Chris may well become the defining project of BC’s critical minerals decade.

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Disclaimer
MiningIR hosts a variety of articles from a range of sources. Our content, while interesting, should not be considered as formal financial advice. Always seek professional guidance and consult a range of sources before investing.
James Hyland, MiningIR
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