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British Columbia mines are getting a break worth $8 million per month from the provincial program that allows them to defer most of their most of their BC Hydro bills during tough times. Eight mines have signed up, according to the Ministry of Energy and Mines

Those deferrals would add up to $200 million, if all eight use up the program’s allotted 24-months worth of deferrals over five years, according to a report from the ministry.

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Energy and Mines Minister Bill Bennett launched the program in February in response to lobbying from the struggling mining sector, which was looking for assistance during tough times.

Photo by NICK PROCAYLO / PNG

The measure was viewed by Mining Association of B.C. CEO Karina Brino as “immediate and meaningful relief” to help keep firms keep operations running through the slump in commodity prices, particularly copper.

Mines would be able to defer up to 75 per cent of their electricity bills for up to 24 months over five years, with BC Hydro holding debts for the companies. When it was launched, the Ministry of Finance estimated it would be worth up to $330 million if all eligible operations applied.