Imperial Metals halts output at Mount Polley
Aug 15, 2014 | 05:37 PM
| Saranya Kapur
NEW YORK Imperial Metals Corp. has indefinitely halted production at its Mount Polley open-pit copper and gold mine in British Columbia due to a tailings dam breach, according to the companys second-quarter financial report.
The Vancouver, British Columbia-based company also will be paying for "remediation and repair" at the mine, the exact amount of which is currently unknown.
The tailings breach has brought into question the future of the companys Red Chris copper mine project in British Columbia, Salman Partners Inc. analyst Raymond Goldie said in a research note. The project was expected to be commissioned in the third quarter of this year, according to the companys website, but Goldie said in an Aug. 15 research note that commissioning could be delayed by up to 12 months....
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