On March 24 the Provincial Government released its quarterly major projects inventory, which covers October to December of 2010, and the document shows that the Northwest lags behind only the Lower Mainland in terms of the total value of proposed projects.
The document lists 51 projects in the area from Hazelton west to Haida Gwaii and from Kitimat north to the Yukon border, projects with an estimated capital cost of $37.2 billion. That is well below the 468 projects with an estimated value of $65.6 billion, but ahead of every other region in the province in terms of total project value with Vancouver Island the next closest with a value of $30.5 billion.
As well as the estimated $525 million Mount McDonald Wind Farm in Port Edward, which has been on the books since 2009 with an undetermined start and finish date, there are a number of projects in the Prince Rupert and North Coast area. Projects in Prince Rupert include the $900 million North Coast Wind Power Project championed by Rupert Peace Power Corp., which has no start or end date attached, the $300 million Canpotex Potash Expansion plans, the estimated $1.4 billion Banks Island North Wind Energy project, which has been on the books since June 2007 with no start or end date, the $50 million Mount Hays Wind Farm, the $15 million Atlin Uplands Development project, and the $72 million Tsimshian Peninsula Project. All of these projects are listed by the government as proposed.
The Prince Rupert Port Expansion, with an estimated value of $820 million, comes with a fall 2013 end date and the entry was updated last September.
For Haida Gwaii, projects listed include the $2.4 billion NaiKun Wind project, which is listed as on hold, and the proposed $50 million Harmony Gold Mine on Graham Island, with no start or end date attached.
Alice Arm, north of Prince Rupert, has two hydropower projects valued at $185 million and the $770 million Kitsault Mine Project proposed for the area.
It should be noted, however, that $29.1 billion of the $37.2 billion is proposed, while $956 million is listed as started with the expansion of phase II of Fairview Terminal accounting for $820 million despite environmental assessment being underway but work not yet being started at the site. A further $7 billion are projects listed as being on hold.