Block Cave Transition Project, British Columbia 

Project Overview 

Major expansion of existing Red Chris open-pit copper-gold-silver mine in BC's Golden Triangle, transitioning to advanced block-cave underground mining to extend mine life and substantially increase production whilst reducing emissions by over 70%. 

Location & Jurisdiction Northwestern British Columbia, approximately 130 kilometres from BC-Alaska border 

• Province: British Columbia 

• Region: Golden Triangle mining district 

• Traditional territory: Tahltan Nation 

Indigenous Partners Tahltan Nation (represented by Tahltan Central Government) 

• Iskut Band 

• Tahltan Band 

• Population: Significant presence across traditional territory 

Key Statistics 

• Operator: Newmont Corporation (TSX: NGT; NYSE: NEM; ASX: NEM) 

• Current Production: 11 million tonnes of copper-gold ore annually (approved through 2038) 

• Ownership: 100% Newmont (acquired through Newcrest acquisition, 2023) 

• Capital Requirement: Approximately CAD $2 billion for block cave development 

• Project Timeline: Block cave operations to commence within three years (by 2028) 

• Expected Start: Construction 2027; production 2030 

Indigenous Partnership Model Historic Governance Framework: 

• November 2023: Historic Declaration Act Consent Decision-Making Agreement signed  

• Second consent-based agreement under BC's Declaration on the Rights of Indigenous Peoples Act (DRIPA) 

• First was Eskay Creek project (2022) 

• 2017: Red Chris Mine Management Agreement established foundation for collaboration 

Co-Management Structure: 

• Impact Benefit and Co-Management Agreement (IBCA) ensures Tahltan expertise, perspectives, and values guide operations 

• Collaborative environmental assessment between BC Environmental Assessment Office and Tahltan Nation 

• Joint decision-making on substantial changes to mining operations 

Economic Benefits for Tahltan Nation: 

• Direct Employment: Approximately 220 Tahltan employed at mine 

• Business Revenue: CAD $100 million annually generated through Tahltan Nation Development Corporation (TNDC) 

• Annual Royalties: Paid to Tahltan Heritage Trust 

• Shared Tax Revenue: Mineral tax revenue from Province shared directly with Tahltan Nation 

May 2025 Community Investment: 

• CAD $8 million contribution to Telegraph Creek, Dease Lake, and Iskut communities 

• Funding for recreation facilities, greenhouses, community spaces 

• Housing improvement planning and pre-development support 

Sustainability & ESG Credentials Indigenous Leadership Model: 

• Recognized as leading example of reconciliatory resource development 

• Free, prior, and informed consent embedded in all major decisions 

• Tahltan expertise integrated into environmental monitoring and management 

Environmental Performance: 

• 70%+ reduction in greenhouse gas emissions when expanded operations reach full capacity 

• Block-cave mining more efficient than conventional methods 

• Advanced environmental assessment under DRIPA framework 

Community Safety: 

• Zero lost-time injuries prioritised 

• Comprehensive safety protocols for underground operations 

Government & Regulatory Support Provincial Fast-Track Designation: 

• September 2025: Named among first five projects for fast-track approval under Canada's Major Projects Office (MPO) 

• Priority status reflects strategic importance for critical minerals supply 

• Streamlined regulatory coordination across federal-provincial boundaries 

BC Policy Framework: 

• Full alignment with Declaration on the Rights of Indigenous Peoples Act 

• Co-governance model serves as template for future resource projects 

• Regional framework supports reconciliation whilst enabling development 

TNDC Business Development Tahltan Nation Development Corporation has established multiple partnerships: 

• Sandvik: Equipment and services partnership for block cave operations 

• Central Mountain Air: Exclusive charter flights contract (renewed 2022) 

• R.C. Crane & Construction: Hoisting and rigging services partnership (March 2022) 

Project Economics Existing Operations: 

• Open-pit mine producing copper concentrate since 2015 

• Original 28-year mine life 

• Acquired by Newcrest (70% stake) in 2019; now 100% Newmont 

Block Cave Expansion: 

• Front-end capital investment: ~CAD $2 billion 

• Lower ongoing investment once established 

• Extended mine life beyond current 2038 approval 

• More efficient extraction of ore bodies previously uneconomical 

Investment Proposition for UK/European Investors Strategic Advantages: 

• World's leading gold miner (Newmont) backing expansion 

• Proven reserves in one of world's premier mining districts 

• Established infrastructure and operating history (10 years production) 

• Consent-based Indigenous partnership providing regulatory certainty 

• Access to clean BC hydroelectricity 

Critical Minerals Supply: 

• Copper production increases over 15% at full capacity 

• Addresses global copper supply shortages 

• Platinum group metals as valuable by-products 

• Strategic importance for EV and renewable energy supply chains 

ESG Leadership: 

• DRIPA consent agreement sets global standard 

• Highest ESG performance standards attractive to institutional investors 

• Co-management model reduces social licence risk 

• Significant emissions reduction despite production increase 

Recent Developments July 2025 Incident & Response: 

• Three contractors trapped underground following ground incidents during block cave preparation work 

• Comprehensive safety stand-down implemented 

• Demonstrates rigorous safety protocols during transition phase 

Tenth Anniversary Milestone (May 2025): 

• CAD $8 million community investment announced 

• Decade of partnership with Tahltan Nation celebrated 

• Tom Palmer (Newmont CEO): "Projects can only succeed when host communities are thriving" 

Provincial Government Support: 

• MPO fast-track designation (September 2025) 

• Coordination with Indigenous partnership requirements 

• Recognition as nationally significant project 

Key Contacts 

• Operator: Newmont Corporation 

• Website: www.newmont.com 

• Tahltan Central Government: www.tahltan.org 

• Regional Government: BC Ministry of Energy, Mines and Low Carbon Innovation 

Investment Considerations Opportunities: 

• Tier-1 operator with global mining expertise 

• Proven deposit with 10 years operating history 

• Consent-based Indigenous partnership eliminates major permitting risk 

• Government fast-track support accelerates timeline 

• Block cave technology increases efficiency and extends mine life 

• Strategic copper supply in supply-constrained market 

Risk Factors: 

• Large upfront capital requirement (CAD $2 billion) 

• Underground mining transition technical complexity 

• Remote location infrastructure dependencies 

• Commodity price volatility impacts project economics 

• Recent safety incidents highlight underground operational risks 

Investment Timeline 

• 2025-2026: Environmental assessment amendment and final permitting 

• 2027: Construction commencement 

• 2028: Block cave operations begin 

• 2030: Full production from expanded operations 

• Post-2038: Extended mine life from block cave reserves 

Investor Resources 

• Newmont Red Chris project page 

• Tahltan Central Government Red Chris information package 

• BC Declaration Act Consent Decision-Making Agreement (November 2023) 

• Newmont 2024 Sustainability Report