Thank you.

Good afternoon, Mr. Chair and members of the committee. Thank you for the invitation and honour of speaking today.

My name is Paul West-Sells. I'm the president of Western Copper and Gold.

Our flagship project, the Casino project, is one of Canada's largest and most significant critical mineral projects and is located in Yukon. I'm here to discuss the significant role our project plays in supporting the transition to a green economy and the development of a resilient and modern electricity grid.

Over its life, the Casino project mine is estimated to contribute $44.3 billion to Canada's GDP, create over 132,000 full-time equivalent jobs and contribute $11.2 billion in taxes and royalties to various levels of government.

The Casino project will be a key contributor to Canada's supply of critical minerals essential for the key energy transition. With an anticipated lifespan of 27 years and the potential to extend for decades beyond that, the project is expected to produce substantial quantities of copper and molybdenum along with gold and silver. As you know, these minerals are crucial for the development of renewable energy technologies such as wind turbines, solar panels and electric vehicles, aligning with Canada's goals for a more sustainable electricity grid.

As the biggest mining development in the Yukon territory, we're committed to ensuring that the Casino project becomes a model of green copper production. To achieve this, we need access to a stable, reliable green power connection. This is why Western has been such a proponent of the B.C.-Yukon grid interconnect.

Simply put, the Yukon is running out of power. Every year, as the population grows, the territory is forced to tack on more diesel generators to meet increasing demand. In the winter, they just can't keep up. The B.C.-Yukon grid interconnect not only represents a source of green power but also would bring reliability to the Yukon grid. The interconnect opens the opportunity for our project and for others to run on a reliable power source. It would strengthen our northern sovereignty and unlock future prosperity for our northern communities.

The Government of Yukon has already put in an application to begin doing the exploratory work on the grid interconnect through the critical minerals infrastructure fund. This would mean beginning work on the planning, site and route selections and continuing engagement with indigenous communities in B.C. and the territory. We understand that any project of this size will take time, but in every year that we wait, the costs and the demand for transmission grow higher. We need to start making tangible first steps towards making this project a reality.

As it stands right now, because of the size of our project and the nature of Yukon's grid, the Casino project is forecast to spend $1.8 billion on the carbon tax over the life of the mine. That's because to power the mine, we need to build and operate our own LNG power plant. In other parts of Canada, we would be able to connect to grid power, but development of the electrical grid in Yukon has not kept up with demand, and it is not equipped to power the next wave of critical minerals projects, such as our Casino project. We believe that if we are paying into the carbon tax, the money should go towards projects that strengthen energy security for Yukoners.

Canada's electricity grid and sector are a competitive advantage in the 21st century. As the nation transitions to green energy sources, projects like ours play a crucial role. Copper from the Casino project will support the modernization of grid infrastructure. We will be a reliable, ethical and sustainable source of critical minerals for manufacturers who use our critical minerals in transmission equipment, generators and batteries. Canadian critical minerals are essential in friendshoring our domestic industry, ensuring that Canada and its allies have access to the resources we need.

The financial barriers to reaching net-zero electricity by 2035 are significant. We recognize that. Our project contributes to this transition by attracting private sector investment. The Casino project's economic benefits, including job creation and regional development, are a generational opportunity for the Yukon and for the country. Canada's commitment to decarbonizing its electricity grid by 2035 and achieving a net-zero economy by 2050 is a challenging yet necessary path. Our project exemplifies how private sector initiatives can support national decarbonization efforts, contributing to cleaner electricity and a reduced carbon footprint.

Western Copper and Gold is proud to be at the forefront of supporting Canada's transition to a green economy through the Casino project. We are committed to contributing positively to the nation's electricity infrastructure, environmental goals and indigenous engagement strategies. Our role in providing critical minerals, supporting grid modernization and fostering economic growth positions us as a key player in Canada's sustainable future.

Thank you for the opportunity to share our vision and our commitment. I look forward to your questions.