"It is the first time since 1976 that an object of this size has passed this closely to the Earth. It gives us a great -- and rare -- chance to study a near-Earth object like this," astronomer Scott Fisher, a program director with the National Science Foundation, said on Thursday during a Web chat with reporters. http://www.reuters.com/article/2011/11/06/uk-space-asteroid-idUSLNE7A500E20111106
However, unfortunately for us amateur observers in Kamloops, it's unlikely we'll be able to witness anything. The best time to observe it would be in the early evening on November 8 from the East Coast of the United States, and it is going to be very faint, telescopic object even at its closest approach.