Pembridge seeks third party to operate Canadian copper-gold mine

Minto copper-gold-silver mine. (Image courtesy of Yukon Government.)

Pembridge Resources (LON:PERE) said on Tuesday it would appoint an operator for its recently acquired Minto mine, in Canada’s Yukon territory.

The London-based company acquired the copper-gold-silver mine in June last year from Capstone Mining (TSX:CS) immediately focusing on resuming operations at the asset, which happened in October.

Pembridge said the appointment of a third party to run the mine would allow it to channel efforts towards complementary activities, including new investment opportunities.

Chief executive and chairperson, Gati Al-Jebourim, said it had become evident there were a number of inefficiencies associated with the time zone difference between the UK and Yukon.

“Installing an operator for day-to-day support to Minto management not only aims to improve the efficiencies of operating Minto, but reduces the management costs attributable to Pembridge,” Al-Jebouri said in the statement.

The third-party would act as the adviser to the Minto general manager and provide direction to senior members of staff on day-to-day operations, the company said.

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