Proceeding with HVC 2040 will sustain the approximate 1,300 jobs and up to $800 million in total economic benefits generated annually by HVC. On an annual basis, HVC provides approximately $185 million in wages and benefits, spends close to $137 million on local goods and services, and contributes $75 million in municipal and provincial taxes.
If approved, HVC 2040 would allow for the continuation of the many social and economic benefits for surrounding communities, helping to attract younger families to the area and expand employment opportunities in the region. HVC 2040 would also allow HVC to continue to collaborate with Indigenous Governments and Organizations to deliver economic and social benefits, and advance reconciliation efforts.
Demand for copper is expected to double by 2050. This increase in copper demand is driven by factors that include the global transition to a low-carbon future, global population growth, and urbanization. Copper is a vital component in everything from renewable power generation to electric vehicles and smartphones.
HVC 2040 would be located at the current HVC site, approximately 17 km west of Logan Lake and 75 km southwest of Kamloops.
Further details on HVC 2040 are provided in the Revised Project Description filed with the Environmental Assessment Office (EAO) in B.C. in June, 2021.
Environmental Assessment Process (EA Process)
HVC 2040 is undergoing an environmental assessment under the B.C. Environmental Assessment Act. The purpose of an environmental assessment is to understand and assess the range of potential positive or negative effects that may occur over the life of a project including consideration of the environment, economy, social, health, and culture. The EAO oversees the EA process in B.C.
HVC 2040 is currently in the Pre-Application phase of the B.C. EA process. In addition to engagement with communities and Indigenous Governments and Organizations through the EA process, HVC is committed to participating in independent Indigenous-led assessment processes.