On Thursday near a Liberal caucus retreat underway in Edmonton, Prime Minister Carney recommended five projects for fast-tracking under Bill C-5, implemented in June to bolster trade and labour mobility. These include:
- Phase-2 of LNG Canada, the country’s first export facility, with capacity of 14 million tons per year.
- The Darlington New Nuclear Project in Clarington, Ontario, which would make Canada the first G7 nation to operate a small modular reactor.
- The Contrecœur Terminal Container Project in Contrecœur, Quebec, proposing to expand capacity at the Port of Montreal by 60 per cent.
- Development of the McIlvenna Bay copper mine in Saskatchewan.
- Expansion of the Red Chris gold mine in British Columbia.
From an individual investor’s perspective, the news is prospective for companies in the business of LNG, broadly speaking, as project development unlocks new demand and previously inaccessible growth runways for explorers, developers and producers alike. In a more pointed fashion, the companies behind the McIlvenna Bay and Red Chris projects are publicly traded, meriting a closer look at how they stack up as investments with newfound support from the Carney government.
Foran Mining
Foran Mining, operator and 100-per-cent-owner of the McIlvenna Bay copper mine, is a copper, zinc, gold and silver explorer and developer focused on creating stakeholder value while doing right by the environment and the communities in which it operates.
This content has been prepared as part of a partnership with Foran Mining Corp. and Newmont Corp., and is intended for informational purposes only.
In terms of potential, McIlvenna Bay is estimated at 793 million pounds of copper and 1.4 billion pounds of zinc in probable reserves, 1 billion pounds of copper and 1.9 billion pounds of zinc in indicated resources, and 93 million pounds of copper and 260 million pounds of zinc in inferred resources, with numerous expansion opportunities across the 20,900-hectare land package likely to expand the project’s current 18-year life-of-mine.
McIlvenna Bay’s multi-billion-dollar resource, based on a copper price of US$4.57 per pound as of September 11, is fully funded to reach commercial production in mid-2026 backed by the proven team at G Mining Services, supporting a potential share-price re-rating once initial revenue starts rolling in and management has a chance to transform streamlined regulatory oversight and high grades – 2.02 per cent copper equivalent indicated and 1.8 per cent inferred – into bottom-line profitability.
Foran Mining stock (TSX:FOM) is up by 5.97 per cent on the news trading at C$3.37 as of 12:45 pm ET. The stock has given back 7.16 per cent year-over-year but remains up by 1,772.22 per cent since 2020.
Newmont
Newmont, holder of a 70 per cent interest in the Red Chris gold mine, is one of the world’s top gold producers, with secondary focuses on copper, zinc, lead and silver, whose portfolio spans favorable mining jurisdictions in Africa, Australia, Latin America, the Caribbean, North America, as well as Papua New Guinea.
The company produced more than 1.5 million ounces of gold and 36,000 tons of copper in Q2 2025, generating a record US$1.7 billion in free cash flow, remaining on track to hit 5.6 million ounces of gold at all-in-sustaining costs of only US$1,620 per ounce. Gold is trading at US$3,635.51 per ounce at the time of writing.
As the only gold producer listed in the S&P 500 Index, Newmont is a leader in its class, whose profitability and global leadership position grant it the conviction to pursue Red Chris’ proposed underground expansion, where a 26-year reserve life, including 3.7 million ounces of gold and 1 million tons of copper, stands to be significantly lengthened by resources of 4.4 million ounces of gold and 1.3 million tons of copper. Production at Red Chris is expected to yield 60,000 ounces of gold and 28,000 tons of copper in 2025.
With the overall business growing net income every quarter over the past five quarters, demonstrating an ability to harness record gold prices, supported by a portfolio with unparalleled upside (see slide 5 of the Q2 2025 investor presentation) and Goldman Sachs’s expectation that gold will continue climbing into 2026, Newmont’s management team, led by a CEO and president/COO with robust major mining experience, deserves your conviction when it comes to providing leverage beyond investing in physical gold alone.
Inventors have responded to the company’s past five all-start quarters, lifting Newmont (NYSE:NEM) by 59.02 per cent year-over-year, outperforming gold’s 42.40 per cent return, though the stock has gained only 25.08 per cent since 2020, underperforming gold’s 86.17 per cent effort.
Carney stated in public comments on Wednesday that more projects will join the initial quintet over the next two months, positioning Canada to ramp-up its essential resources supply chain and reinforce infrastructure critical to national security, while potentially nudging new public companies into the spotlight thanks to their national importance.
Join the discussion: Find out what everybody’s saying about Prime Minister Carney and his fast-tracked mining projects on the Foran Mining Corp. and Newmont Corporation Bullboards and check out the rest of Stockhouse’s stock forums and message boards.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
