Permitting delays impact British Columbia projects valued at C$38 billion, AME says
British Columbia's exploration sector has over 60 critical mineral projects waiting for permits.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 23, 2011) – Cardero Coal Ltd. (“Cardero Coal”) is encouraged by the Government of British Columbia’s announcement on Thursday regarding the BC Jobs Plan, as well as the stated commitment to reduce the time it takes to get decisions on mineral exploration and mining approvals and permits.
“BC has a rich history of mining and Premier Clarke’s recognition of the sector and the role it plays in the provincial economy indicates her understanding of what needs to be done to ensure our province benefits fully from the valuable resources we have in the ground,” says Michael Hunter, Cardero Coal’s President.
“In BC’s Northeast, coal represents a critical part of the region’s past and future,” continues Hunter. “Cardero Coal’s Carbon Creek project has the potential to provide much-needed employment and economic development and we welcome Government’s commitment to working with industry to make that happen. The funds allocated to address the backlog of license applications are important to ensure a robust mineral exploration and mining sector in BC.”
About Cardero Coal Ltd.
Cardero Coal Ltd. is currently engaged in an extensive exploration program of its metallurgical coal deposit located in northeastern BC. A recently completed NI 43-101 Technical Report noted that the site contains 114M tonnes of measured and indicated resource and a further 89M tonnes of inferred resource.
For more information about the Company and its assets, interested parties are invited to visit the corporate website at www.cardero.com.
