Business

Pre-construction work underway for Kistault mine

Work on roads and for a construction camp at Kitsault has been started by Avanti Mining in a lead up to a planned full-on development starting next year for a molybdenum mine scheduled to open in 2017.

The work follows the granting by the provincial government on June 13 of a mines permit and the subsequent granting of other permits and leases allowing work to start.

"This is a very significant milestone for the Kitsault molybdenum project," said Avanti president Gordon Bogden of the mines permit for the project which will cost close to $1 billion in construction and ongoing capital costs.

Avanti has lined up a portion of its financing, as well as sales agreements with South Korean and German firms and agencies and is now working on final financing.

It is forecasting a construction workforce of 700 people at the peak and anticipates needing a workforce of 300 people over a projected 14-year life.

"I am eager to see production at Kitsault begin, which will provide up to 300 new, well-paying jobs for British Columbians," said provincial mines minister Bill Bennett.

Avanti received its provincial environmental approvals a little over a year ago.

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