Terrane Metals Corp. has raised $100 million in financing with the help of global-giant Goldcorp. to be used to construct the proposed Mount Milligan gold and copper mine in northern B.C.
The project promises to bring jobs to north-central B.C. and is being watched closely by the nearby communities of Fort St. James and Mackenzie, both of which have suffered economically during a lengthy forestry downturn led by a collapse in U.S. housing.
Prince George also stands to gain as a goods and service centre in northern B.C.
The mine, with a forecast life of 15 years, is expected to create 400 jobs. Between 200 to 600 workers will also be needed during the mine's two-year construction period.
The financing for the mine project is being raised through the sale of shares in Terrane Metals, a Vancouver-based company.