Mining

Industry Snapshot

Mineral exploration and mining is a $6 billion industry in British Columbia and has been a regional economic strength in Kamloops for decades.  There are numerous metal and mineral mines as well as many proposed mine developments located in the Kamloops area including Highland Valley Copper Mine, which is the biggest open-pit copper mine in Canada.  As a major contributor to the local economy, Highland Valley Copper Mine employs about 950 full-time workers with an annual payroll of over $80 million. Two recent announcements of mines in the area continue to support growth in this industry.  The New Afton Property is scheduled to continue the underground development and continue surface construction in 2010 and will see production begin in the second half of 2012.  The Ajax Development, owned by Abacus Mining & Exploration Corp., will produce mostly copper as well as gold and silver.

With a rich mining history going back over 100 years, Kamloops has skilled mining personnel, mining consultants, assay labs, mining suppliers and an infrastructure.  This significant concentration has resulted in a cluster of industries that have located here to support the mining operations.

Competitive Advantages

Kamloops is the ideal choice for companies involved in the mining industry because of its central location to all major centres in British Columbia.

Kamloops is a vital transportation hub in B.C., due to its location at the intersection of BC's four major highways, the Coquihalla (Hwy 5), TransCanada (Hwy 1), Yellowhead (Hwy 5), and Highway 97.  Over 25 trucking and transport companies that ship goods across B.C., Canada and the U.S are located in Kamloops.  Both Canadian National Railway (CNR) and Canadian Pacific Railway (CPR) service Kamloops and intersect in Kamloops.

Incentives

The BC Mining Exploration Tax Credit (METC) is 20% on the net qualified mining exploration expenses.  As of February 21, 2007, the credit is 30% for exploration in prescribed Mountain Pine Beetle affected areas. 

The Industrial Research Assistance Program (IRAP) supports research projects on a selective basis with grants ranging from $10,000 to $250,000 per annum. 

Resource Organizations 

Ministry of Energy, Mines and Petroleum Resources 
Mining Association of British Columbia