Cross-border concerns about mineral exploration and logging in British Columbia's Skagit River watershed may put a long-simmering campaign to close a hole in the middle of two provincial parks back on the front burner.
Imperial Metals Mining News
Investors ‘flabbergasted’ at $1.1b stake taken in Red Chris mine by Australia’s Newcrest.
The bank has upgraded Imperial Metals to a neutral rating from underperformer and lifted its 12-18 month target price on the stock.
Australia’s largest gold producer is paying $806.5 million for a 70% stake in Imperial Metals’ Red Chris copper and gold mine, located in British Columbia.
For the full year, the company produced 75.3 million lb. of copper and 79,056 oz. of gold.
The company said there will be no impact to the mine’s ongoing environmental monitoring and remediation program.
The company produces copper and gold at its Red Chris, Mount Polley and Huckleberry mines and lead and zinc at half-owned Ruddock Creek mine, all in British Columbia.
The province’s businesses grapple with the challenge of rising costs, threats to natural resources and changes in consumer spending patterns.
Imperial Metals reduced metal production targets earlier this month.
No charges will be laid under British Columbia’s environmental laws in relation to Imperial Metals Corporation’s Mount Polley tailings-dam breach August 4, 2014.
A hot and dry summer in British Columbia has set forests aflame, and last week the effects of Mother Nature were felt by two prominent BC mines.
Rapidly spreading wildfires in British Columbia disrupted operations at two mining companies and damaged public utilities on Monday as 14,000 people were forced from their homes in the interior of the Western Canadian province.
Imperial Metals (TSX:III) has been granted a water discharge permit from the B.C. government that will allow the company to flow treated mine wastewater from the Mount Polley mine into Quesnel Lake.
Imperial Metals applied for a permit to release water from Mount Polley tailings pond in 2009 – and still doesn’t have one.
Two years after the mine’s massive tailings pond collapse, the tarnished Golden Triangle environmental and economic fallout continues.
Recommendations regarding better site investigation procedures, and stricter adherence to tailings management procedures are obvious steps in the right direction.
It was one of the worst environmental disasters in Canadian history, and now, the company behind the 2014 Mount Polley mine tailings breach is looking to make somebody pay.
Research and monitoring to date indicates the environment is recovering rapidly. No long lasting impacts are anticipated at this time.
Imperial said the 44 recalled workers will focus on tailings dam construction.
Company has already told employees that the mine will shut down in August.
Low copper prices have forced the Vancouver-based firm to lay-off more than one-third of the workforce at its Huckleberry mine in northwestern British Columbia.
"Weak practices, however, do not constitute a legal contravention of existing mining legislation.
The volume of water behind the dam has been rising and concerns had been raised in recent weeks about what could happen as snow melts and its capacity is exceeded.
Until early November, the failure at the Canadian Mount Polley copper mine had been the worst such breach in recent years.
On 1st anniversary of North America’s worst mine waste disaster, failures shown to be global trend attributable to industry & regulatory failure to implement best practices.