BC’s 14 operating mines could shrink to five – report – MINING.COM – MINING.com

“When BC launched the carbon tax in 2008, it was assumed many other nations subnational jurisdictions would follow with their own,” the report states. “Most have not. Those that did have protected their trade exposed firms.

“In light of this, BC’s mines smelters face a significant cost disadvantage because firms they compete with in other jurisdictions have no carbon pricing or significantly lower carbon pricing. Anecdotal evidence suggests the carbon tax is already contributing to a shift in capital investment carbon leakage.”

BC’s mines smelters face a significant cost disadvantage because firms they compete with in other jurisdictions have no carbon pricing or significantly lower carbon pricing

It notes that the U.S., Australia, Russia the Middle East pay no price for carbon, miners in Chile only pay carbon tax on their electricity generation, at $5 per tonne of CO2. B.C.’s carbon tax is currently $40 per tonne, scheduled to rise to $45 per tonne in 2021.

There are currently 14 operating mines in B.C. two smelters that sustain 35,000 jobs, provide $1 billion in tax revenue to government account for 25% of B.C.’s exports, the report notes.

But the association warns that, as the mines become exhausted, new ones may not get built, due to the high cost. New replacement mines will get built, they will produce emissions – it just won’t be in B.C.

The NDP government’s own mining task force identified 25 areas of concern for mining in B.C., with
Source…