Viridian Metals says it has become the largest claim holder in Newfoundland and Labrador
This month, Viridian was chosen by BHP from hundreds of global applicants to participate in its 2025 Xplor accelerator program.
US giant Newmont Corp. (NYSE: NEM, TSE: NGT), the world’ biggest gold miner, increased both its presence in the Canadian province of British Columbia and its exposure to copper when it acquired Newcrest in a $17 billion deal in 2023.
The acquisition brought two operations in the province’s northwest — the Bruce Jack and the Red Chris mine — into its portfolio, and the miner is planning a lengthy presence in the area, Newmont’s group head, exploration and geoscience, Erin Workman told an audience at the AME Roundup conference in Vancouver British Columbia this week.
Northwest British Columbia lies within the famous Golden Triangle, home to world-class deposits of gold and copper – a metal key to the green energy transition.
Newmont signalled renewed interest in BC by acquiring a 50% stake in the Galore Creek copper-gold project in 2018 in a joint venture with Teck Resources (TSX: TECK B).
“Both operations represent our commitment to building a multi-decade presence in this province anchored by sustainable and responsible mining practices,” Workman said.
A McKinsey study projects that global copper demand will increase by 30% by 2035, yet Canada’s copper production has declined by 20% over the last decade, and this growing supply-demand gap represents an enormous opportunity for British Columbia, Workman noted.
The area of Northwest BC is home to 75% of Canada’s known copper resources. Conventionally known as the Golden Triangle, we also view this region as the Copper Corridor. The significance of the geology cannot be overstated.
Newmont’s group head, exploration and geoscience, Erin Workman
“The area of Northwest BC is home to 75% of Canada’s known copper resources. Conventionally known as the Golden Triangle, we also view this region as the Copper Corridor. The significance of the geology cannot be overstated,” she said. “The energy transition is a global imperative. Copper is at the heart of this transition.”
Newmont plans to to add underground block cave mining to its open pit operations at Red Chris, which it operates and holds a 70% stake in. Imperial Metals (TSE: III) holds the remaining 30%.
The Red Chris block cave project alone has the potential to increase Canada’s copper production by about 15% and the Galore Creek project could increase national production by over 35%, Workman said.
“Together, these projects position British Columbia as a potential global leader in responsibly mined critical minerals,” Workman said, adding that partnerships with First Nations and advancing mining projects with integrity are integral to success.
“We believe BC’s mineral exploration and mining factor has an important global role to play in providing materials for global energy transition and new technologies and setting a precedent for reconciliatory resource development,” she said.
Mining is a key driver of economic activity in British Columbia and, as the largest industrial partner and employer of Indigenous peoples in Canada, can provide pathways to Indigenous leadership, Workman said.
The province is working to address changes to the Mineral Tenure Act after BC Supreme Court ruled that the province must consult with Indigenous groups before granting mineral claims, upholding the Crown’s duty to these communities. A court deadline for updated legislation is in late March.
BC’s Tahltan Nation’s territory covers about 11% of the province and sits on an estimated 50.6 million ounces of gold and 12.5 billion pounds of copper, according to data mapping provider DigiGeoData.
The Tahltan nation has unique powers due to a combination of land rights, legal clout, financial heft and the ability to conduct their own economic and environmental assessments on projects in their territory.
Newmont has formal agreements with the Taltan, the Nisga’a, the Git’nyan, and the Sitka Maha Nations.
“These agreements aren’t just legal documents,” Workman said. “They’re frameworks for partnerships, ensuring that communities benefit from our operations through employment, procurement opportunities, and direct economic contribution.”
“Mining responsibly means partnering with indigenous communities, minimizing environmental impact, and ensuring that economic benefits are broadly shared,” she said. “Reconciliation is not just a goal, it’s a process. One that requires commitment, respect, and collaboration.”
“We believe reconciliation must be central to how we operate in British Columbia. The mining industry has a complex history with indigenous communities, and we can’t ignore the mistakes of the past. But today, we have a chance to redefine this relationship, and we’re seeing meaningful progress right here in British Columbia.”
Comments