Terrane Metals Corp.'s shareholders have approved its sale to Thompson Creek Metals Co. Inc., which will put the $917-million Mount Milligan gold and copper mine in new hands.
The mine, about 155 kilometres northwest of Prince George, is the closest new mining project to the city.
Preliminary construction of the Mount Milligan mine started this year.
The vote to sell Terrane Metals to Thompson Creek Metals, which already owns the Endako molybdenum mine west of Prince George, was approved by 99 per cent.
Under the terms of the deal, Terrane shareholders will receive 90 cents in cash and 0.052 of a Thompson Creek share per Terrane share.
The sale is subject to regulatory approval.
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.
Municipalities and business groups in north-central B.C., including in Prince George, as well as the McLeod Lake Indian Band, have voiced support for the project.
However, the Nak'azdli First Nation has launched court challenges of the provincial and federal environmental approvals of the project.
.png;w=120;h=80;mode=crop)
