B.C. now stands for Building infrastruCture. (Okay, that was a stretch, but you get the gist.)
Driving the news: B.C. Premier David Eby — who is on a 10-day trade mission to Japan, South Korea, and Malaysia — said that Japanese conglomerates like Mitsubishi and Nippon Steel are interested in B.C.’s critical minerals and liquefied natural gas (LNG).
Why it matters: B.C. looks to be at the forefront of the nationwide push to harvest more natural resources and diversify foreign trade partners in the face of the U.S. trade war.
- Last week, B.C. welcomed Canada’s newest gold and silver mine, which is expected to generate $2.3 billion in provincial revenue over its lifespan.
- Meanwhile, the province’s long-awaited LNG terminal, which came online earlier this year, is slated to make its first deliveries to Asia any day now.
Big picture: While Eby is resisting calls from Alberta Premier Danielle Smith to OK a new pipeline, the province has positioned itself to develop other projects: it just passed a bill bestowing the government the power to fast-track projects it deems “provincially significant.”
- The Ministry of Infrastructure will be able to speed up permitting processes for projects that receive this tag, and can even recommend that permit requirements for certain projects be replaced with new regulations if approvals are still taking too long.
Yes, but: If you thought that this sweeping new provincial power would be alarming for environmentalists and Indigenous groups, then you’d be correct.—QH