Chinese explore Yukon mining potential

http://www.cbc.ca/canada/north/story/2009/08/06/yukon-china-mining.html?ref=rss

A high-level delegation of Chinese mining and government officials is in the Yukon this week, looking at potential mines to invest in.

The Yukon's Economic Development Department is hosting the 12-member group, which comprises representatives from metals companies such as China Gold Corp. and China Aluminum Corp.

The delegation also includes two officials from China's National Development and Reform Commission, which approves overseas investments.

"They're certainly the ones that have to make the final approval, but it's interesting that they have approached us," Economic Development Minister Jim Kenyon told CBC News on Thursday.

"Usually, the company would do its due diligence and then go to them for their advice."

The Chinese delegation was briefed on Thursday about the Yukon's mining regulations and practices, as well as the territory's environmental and socio-economic assessment process for development proposals.

On Friday, the group will split up to tour Yukon mining companies. One group will go to Selwyn Resources Ltd.'s zinc-lead-silver deposit at Howards Pass, on the Yukon-N.W.T. border, while the other group will visit Western Copper Corp.'s Casino property northwest of Whitehorse.

Kenyon said the delegation's Yukon tour is evidence of how interested China is in mining in the territory. The country may eventually spend hundreds of millions of dollars bringing Yukon mines into production, he said.

"This is going to generate a huge number of jobs," he said.

"It will be done to the same environmental standards, it will go through YESAA [the Yukon Environmental and Socio-Economic Assessment Act]. It will go through all of that."

Kenyon hinted that some deals are currently in the works, but he would not give details until they are finalized.

Chinese explore Yukon mining potential

Last Updated: Thursday, August 6, 2009 | 5:34 PM CT Comments9Recommend20

CBC News

A high-level delegation of Chinese mining and government officials is in the Yukon this week, looking at potential mines to invest in.

The Yukon's Economic Development Department is hosting the 12-member group, which comprises representatives from metals companies such as China Gold Corp. and China Aluminum Corp.

The delegation also includes two officials from China's National Development and Reform Commission, which approves overseas investments.

"They're certainly the ones that have to make the final approval, but it's interesting that they have approached us," Economic Development Minister Jim Kenyon told CBC News on Thursday.

"Usually, the company would do its due diligence and then go to them for their advice."

The Chinese delegation was briefed on Thursday about the Yukon's mining regulations and practices, as well as the territory's environmental and socio-economic assessment process for development proposals.

On Friday, the group will split up to tour Yukon mining companies. One group will go to Selwyn Resources Ltd.'s zinc-lead-silver deposit at Howards Pass, on the Yukon-N.W.T. border, while the other group will visit Western Copper Corp.'s Casino property northwest of Whitehorse.

Kenyon said the delegation's Yukon tour is evidence of how interested China is in mining in the territory. The country may eventually spend hundreds of millions of dollars bringing Yukon mines into production, he said.

"This is going to generate a huge number of jobs," he said.

"It will be done to the same environmental standards, it will go through YESAA [the Yukon Environmental and Socio-Economic Assessment Act]. It will go through all of that."

Kenyon hinted that some deals are currently in the works, but he would not give details until they are finalized.