October 25, 2026
Newmont has set a capital estimate of up to $4.8 billion for the expansion of the Red Chris copper‑gold project in British Columbia, outlining a long‑dated production profile that extends into the second half of the next decade. The plan calls for an average annual output of 275,000–325,000 ounces of gold and 65,000–85,000 tonnes of copper over the years 2035 through 2040.
Project Outline
The Red Chris expansion moves forward with a defined capital ceiling and an explicit view of expected metal volumes, providing a clearer framework for planning and financing. While detailed engineering, build sequencing and procurement timelines were not disclosed here, the stated cost and production parameters set the high‑level contours of the project and its contribution potential to both gold and copper supply.
Located in British Columbia, the asset is positioned within an established mining jurisdiction with year‑round access and a skilled industrial base. The expansion budget implies a multi‑year construction effort commensurate with large, hard‑rock copper‑gold developments. The headline figure provides a reference point for cost discipline and future updates as scope definition advances.
Production Profile and Timeline
Average annual production guidance of 275,000–325,000 ounces of gold alongside 65,000–85,000 tonnes of copper is targeted for the 2035–2040 window. This range suggests the company is planning for a sustained steady‑state period in those years, with the interval serving as a marker for when meaningful volumes could be present in market balances. The gold and copper streams, if delivered as outlined, would be material for a single site and diversify revenue across two metals with distinct end markets.
The timing places Red Chris among late‑decade additions to primary copper and gold supply. For copper, the prospective tonnage aligns with ongoing industrial electrification and infrastructure themes; for gold, the ounces reinforce the role of long‑lead, capital‑intensive projects in maintaining mine‑supply pipelines. Execution, cost control and schedule adherence will be key focal points as the expansion advances toward that target window.
Context and Implications
A defined capital envelope and multi‑year production averages help market participants calibrate expectations for future metal flows, even as broader variables—input costs, permitting outcomes, and construction productivity—shape eventual delivery. For portfolio and supply‑chain planners, the 2035–2040 horizon underscores how incremental mine supply is planned many years ahead of physical availability.
For holders of allocated bullion, long‑dated mine plans inform views on prospective primary supply but do not affect the custody or accessibility of existing vaulted metal.
