For Immediate Release
April 5, 2022
MABC Responds to Major Mines Reclamation Security Policy
VANCOUVER, BC – The provincial government’s new interim Major Mines Reclamation Security Policy is one of the most stringent mine reclamation bonding policies in the world, says the Mining Association of British Columbia (MABC).
The interim policy requires major operating mines to provide assurance that taxpayers will not be liable for mine site reclamation and environmental clean-up. The policy encourages proactive reclamation, where mines conduct restoration work throughout the life cycle of the mine on areas where mining activity no longer occurs.
“We are reviewing the interim policy and will consult with our membership, said Michael Goehring, President and CEO of MABC. “On first look, the interim policy includes substantial bonding requirements that exceed most other jurisdictions in the world. It appears to encourage long-term environmental stewardship and the responsible development of the metals and minerals the world needs to support the low carbon future.”
BC’s mining industry currently provides more reclamation security than other natural resource sectors. In total, the Province holds more than $2.3 billion in reclamation security from BC mining companies, an increase of more than $1 billion since 2016.
“One important aspect of the interim policy to be developed is a transparent bonding calculator that establishes reasonable and fair costs for reclamation work,” said Goehring. “MABC encourages the government to continue to work with industry to ensure mines have clarity on how reclamation security costs are determined.”
In addition to the new interim policy, the laws and regulations governing BC’s mining industry have undergone significant changes in recent years, including a new Mines Act, a revised Health, Safety and Reclamation Code, new water quality guidelines, and ongoing monitoring to protect downstream communities and critical salmon habitat. The independent Chief Mines Auditor determined that BC’s tailings storage facilities regulations are among the best in the world.
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About the Mining Association of British Columbia
MABC is the voice of British Columbia’s mineral and metal producers, steelmaking coal, smelters and advanced development companies. Our industry benefits all British Columbians and supports more than 35,000 jobs and over 3,700 small, medium and Indigenous affiliated businesses in every corner of the province through an annual spend of nearly $3 billion on goods and services. Our members’ products have among the lowest carbon footprints globally and are helping the world transition to a cleaner, low-carbon future; safely and responsibly.
For more information:
Matt MacInnis
mmacinnis@katana.work
(778) 628-1703
What makes BC such an attractive place for mining investment and development?
BC is uniquely positioned to play a leading role in providing Canada’s allies and partners with the minerals, metals, and steelmaking coal they need.
British Columbia has or produces sixteen of the fifty minerals the U.S. has identified as being vital to their national interest. Over half – are found or produced in British Columbia, including: aluminum, copper, germanium, gallium, indium, nickel, and many others.
What is the Mining Association of British Columbia?
The Mining Association of British Columbia (MABC) is the voice of British Columbia’s steelmaking coal, metal and mineral producers, smelters, and advanced development companies. Our industry benefits all British Columbians and supports more than 56,000 jobs, $27 billion in economic activity for British Columbians, and nearly 4,000 small, medium, and Indigenous affiliated businesses in every corner of our province.
Our members’ products have among the lowest carbon footprints globally and are helping Canada and our allies meet our decarbonization, technology, and national security objectives; safely and responsibly.
How does BC compare with other mining jurisdictions around the world when it comes to regulation, innovation, and investment opportunities?
British Columbia is recognized globally for its rigorous regulation and environmental and social responsibility standards.
The provincial government’s move towards accelerating permitting timelines and creating clearer regulatory pathways for mining and critical mineral projects also are helping make BC a very strong global mining jurisdiction.
BC is competitive, but we are not the only mining game in town when it comes to global investors. Jurisdictions that combine strong geology with fast, predictable permitting and innovation incentives are capturing the largest share of new investment. BC has the ingredients to lead — but must continue strengthening regulatory and permitting efficiency, infrastructure planning, and investment certainty to fully realize its potential.
BC can be a global leader in responsible, innovative, and future‑focused mining. The decisions made now will determine whether the province secures that leadership position in the decade ahead.
BC is uniquely positioned to play a central role in providing Canada’s allies and partners with the minerals and metals they need.
What economic impact does the mining industry have on British Columbia, including employment, First Nations partnerships, and local communities?
There are 31 proposed mining projects in BC mining that could deliver more than $90 billion in economic opportunity for Canada.
Mining is the biggest jobs and economic opportunity BC will see in a lifetime. Mining can secure our economic future and long-term prosperity.
Mining is already a cornerstone of British Columbia’s economy. The next generation of proposed mining projects presents major economic opportunities for BC.
MABC’s Mining and Metro Vancouver Economic Impact Study identifies 31 proposed new and extended mines across the province, including 20 critical mineral projects, seven precious metal projects, and four steelmaking coal projects.
Construction and development of these mines are expected to generate:
– $90+ billion in total economic activity
– $40+ billion in GDP
– $24 billion in pay cheques
– 286,000+ well-paying jobs
– $12 billion in government revenues
Which commodity is in most demand right now and which province has the most of it?
Right now, the commodities driving the greatest opportunities in BC are copper, gold, and critical minerals — especially molybdenum, battery metals like lithium, and rare earth elements.
BC is Canada’s leading producer of copper and steelmaking coal, second largest producer of silver, and only producer of molybdenum.
What role can BC’s mining industry play in boosting our economy?
Mining supports more than 56,000 jobs and generates billions in economic activity, while creating opportunities for thousands of small, medium, and First Nations businesses across our province.
At a time of growing economic uncertainty, mining can secure our economic future by creating jobs that strengthen communities in every region of BC.
What does BC’s mining sector offer Canada and its allies, and why is developing these resources such an important opportunity for the future?
BC’s mining sector has the critical minerals, precious metals and steelmaking coal that Canada and our allies need. Demand for these strategic resources is growing, and we are ready to deliver.
Developing our resources for new markets is a nation-building opportunity that will grow our economy, protect our sovereignty, and make BC and Canada stronger.
Why is now a great time to consider a career in BC’s mining industry?
BC’s mining industry is hiring.
In fact, with the growth of the sector, the industry needs to hire 35,000 workers over the next 10 years.
That means you can be part of a new generation of British Columbians who can take advantage of skilled, high-paying jobs in every region of the province.
