- Write by:
-
Tuesday, May 10, 2022 - 13:50:40
-
457 Visit
-
Print
Mining News Pro - Imperial Metals is aiming to reopen its Mount Polley copper-gold mine in British Columbia, Canada, before the end of June, buoyed by high prices for the metal and a looming deficit.
Work to reopen the mine began late last year, with hundreds of former and new employees focused on removing water from the pit, pre-stripping waste rock to expose ore bodies and preparing the processing mill for a restart.
Since then, the company has stockpiled about 4.5 million tonnes of ore for milling, which it plans to get under way this quarter.
Mount Polley was first shut down in 2014, after a massive tailings pond collapse. Imperial Metals had to rebuild the mine’s tailings and spent more than C$70 million ($55m) in environmental rehabilitation focused mainly on restoring Hazeltine Creek, which flows into Quesnel Lake.
Operations resumed two years later, around the time the company had to place another of its BC-based copper mines — Huckleberry — into care and maintenance.
Mount Polley was shut down again in 2019 due to a slump in copper prices that placed the metal below $3 per pound, the figure the company needed at the time to make a profit.
In its first quarter results report, Imperial Metals said that once Mount Polley is up and running again, work will shift toward bring Huckleberry back online
Restart of Mount Polley has come at price tag of C$2 million ($1.55m) as of the end of March, which increased the net loss by $22.4 million, the company said.
Imperial Metals owns 30% of the Red Chris copper mine in BC, which has been its only source of revenue since 2019.
Short Link:
https://www.miningnews.ir/En/News/621260
Peru’s dented mining mojo, hit by years of political turmoil in the Andean country, is being buoyed by strong copper ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and ...
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Adani Enterprises Ltd., which posted a 38% fall in quarterly profit, said India’s markets regulator has queried it about ...
China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP ...
BHP Group (ASX: BHP) has deployed a senior team including its chief executive officer to South Africa as the world’s ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
No comments have been posted yet ...