In a deal reached with the British Columbia government, Getty Copper will receive a discounted power rate for its planned copper mine near Logan Lake. The rate will be directly tied to copper prices.
The arrangement is part of the province’s Power for Jobs program, which is designed to create jobs by providing discounted power rates to firms which can demonstrate that their new projects will provide net benefits for the province. The program was introduced in 1997.
The proposed $16-million Getty North operation is expected to employ solvent-extraction electrowinning for the producion of cathode copper.
In another gesture of support, the province has introduced $500,000 in grants through its Prospectors Assistance Program.
The program provides individual grants of up to $10,000. Successful applicants receive half of their approved funding up-front, with the remainder coming after the approval of a prospecting report.
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