Pacific Booker Minerals Inc. Provides Information on Economic Effects
06.02.2013 | PR Newswire
VANCOUVER, Feb. 6, 2013 /PRNewswire/ -- Pacific Booker Minerals Inc. (NYSE MKT: PBM), (BKM.V) provides information on the Morrison Copper/Gold Project's economic effects.The total Project expenditures during the life of the Project are estimated to be approximately $2.5 billion.
Provincial Gross Domestic Product (GDP) is a measure of the value added to the provincial economy by activities attributable to the Project. During the two year construction period, the total increase in GDP from the Project's direct, indirect, and induced effects are expected to total $104.3 million in each year of construction for a total of $208.6 million.
The Project will provide 1,117 jobs per year during the two year construction period. In each year of the construction period, the Project and Supply Industry employees would benefit from $78.7 million in household income for a total of $157 million.
The contribution to government tax revenues during the two year construction period will annually generate $22 million in direct tax revenue, of which $9.5 million would go to the federal government and approximately $12.7 million would go to the province. In addition, the supply industry will generate $7.1 million in federal tax revenue, $5.7 million in provincial tax revenue and $0.9 million in municipal tax revenue. The total annual government tax revenue is estimated to be $35.8 million per year for a total of $71.6 million.
During the 21 year operation period, the total increase in GDP from the Project's direct, indirect, and induced effects are estimated to total $50 million annually for a total of $1,050 million ($1.05 billion). The Project will provide 601 jobs per year during the 21 year operation period. In each year of operation, the Project and Supply Industry employees will benefit from $34.9 million in household income for a total of $723.9 million.
The contribution to government tax revenues during the 21 year operation period will annually generate $5.4 million in direct tax revenue, of which $2.9 million would go to the federal government and $2.5 million would go to the province. In addition, the supply industry would generate $3.0 million in federal tax revenue, $2.5 million in provincial tax revenue and $0.7 million in municipal tax revenue. The total annual government tax revenue is estimated to be $11.7 million per year for a total of $245.7 million.
The total tax revenue from construction and operations is $317.3 million in federal, provincial and municipal taxes. Please note that the Provincial Mineral Tax calculation is not included in this calculation.
The information provided above is taken from the Environmental Assessment Certificate documentation prepared by the BCEAO (report dated August 21, 2012) for the Morrison Copper/Gold Project, and is available at the following link, in Table 10 (on page 109) and Table 11 (on page 111). http://a100.gov.bc.ca Please copy and paste this link into your internet browser if you experience any difficulties with it.
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Contact:
Gregory R. Anderson
Director, CEO and President
1-800-747-9911
1-800-234-3680