February 25, 2021 | Red Tape Hurts Investment in Canada
Stewart Muir Stewart Muir is founder and executive director of the Resource Works Society, a Vancouver-based group open to participation by British Columbians from all walks of life who are concerned about their future economic opportunities. He is an author, journalist and historian with experience on three continents including a financial editor of The Vancouver Sun responsible for mining and markets coverage. Since Resource Works was established in 2014, the group has gained international recognition for its practical approach to the public challenges of responsible natural resource development and use.
The biggest hold-up is split processes, both provincial and federal, whether it’s cutting permits for forestry or mining assessments. Walter Cobb explains.
But now we have red tape throttling development. The proposed Prosperity Mine, 125 kilometres south of Williams Lake, has reserves of 5.3 billion pounds of copper and 13.3 million ounces of gold. It’s huge. It would employ 550 people, create even more spin-off jobs, and add $340 million to our GDP each year. But we now have been through a full 20 years of process and government red tape on this, and we still have no mine and no jobs and no government revenue. The BC government approved the mine in 2010. But later in 2010 Ottawa’s separate review led the feds to reject the project, and they invited Taseko Mines Ltd. to submit a new design.