Project and operations updateMining and minerals
Newmont targets early 2027 investment decision for Red Chris copper cave
The proposed British Columbia underground development would expand processing to 15 million tonnes a year; feasibility work and joint venture approval remain outstanding.
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- First published on EPC Feed
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Newmont said on 22 October it was advancing the Red Chris Block Cave project in British Columbia toward a full-funds investment decision in early 2027. The company said its feasibility study was nearing completion, subject to review and governance oversight. Construction is expected to start in 2027 and commercial production is targeted for 2033, but both remain contingent on approvals from Newmont’s board and the Red Chris joint venture board. Newmont owns 70% of the operation and Imperial Metals owns 30%.
The proposed brownfield project would develop an underground block cave beneath the existing open pit, expand processing facilities to 15 million tonnes a year and upgrade site infrastructure to access deeper, higher-grade gold-copper mineralization. Newmont said the initial cave phase is expected to produce three million ounces of gold and more than 850,000 tonnes of copper over a 13-year cave life. During 2035–2040, the project is expected to ramp up to average annual production of 275,000–325,000 ounces of gold and 65,000–85,000 tonnes of copper. These are project estimates, not current Red Chris output.
Newmont placed total development capital at US$4.2–4.8 billion in real terms, net of an anticipated C$500 million contribution from the Government of Canada. It said the estimate reflects its latest development plan, productivity assumptions and a more mature understanding of required infrastructure, schedule and contingencies. The capital estimate excludes costs to transition from open-pit to block-cave operations, and Newmont said it expects to fund the investment through internal cash flows. It expects the grant’s terms to be finalized before the end of 2026.
The federal contribution was announced in July as support for the project. Newmont’s October update says the joint venture is still working with the government to finalize the grant terms and expects an agreement in the coming months. The contribution is therefore anticipated in the project’s net capital estimate, but the 22 October release does not describe it as a completed payment. Newmont also states that 40% of planned upfront investment in processing facilities, material-handling systems and other infrastructure is expected to support potential future expansions; later phases are excluded from the stated initial project metrics.
Red Chris is an operating gold and copper mine in British Columbia’s Golden Triangle. Newmont’s project page lists a 70% interest and reports 0.9 million tonnes of copper reserves and 1.3 million tonnes of copper resources for fiscal 2025. Newmont’s October announcement reported 23,000 tonnes of copper production across its operations in the third quarter, primarily from managed operations, but did not identify the Red Chris share in that headline figure. Its detailed release reported Red Chris produced 5,000 tonnes of copper in the quarter on the project’s 100% basis.
The decision timetable and production profile remain estimates. The feasibility study is still under review, capital terms are not final, and the investment decision requires joint venture board approval. Newmont’s October release says the existing Red Chris mine received amended provincial regulatory approvals in June 2026 to enable transition from open-pit mining to block caving. It also says the amended Environmental Assessment Certificate came through a consent-based process with the Tahltan Nation. The company’s update describes the project pathway and estimates; it does not report that construction has begun.
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