InvestorsHub Logo
Followers 51
Posts 39357
Boards Moderated 9
Alias Born 04/02/2005

Re: None

Tuesday, 07/18/2017 6:29:44 PM

Tuesday, July 18, 2017 6:29:44 PM

Post# of 12797
Wildfires prompt two B.C. mines to pause some operations

https://www.theglobeandmail.com/news/british-columbia/wildfires-prompt-two-bc-mines-to-pause-some-operations/article35715413/

VANCOUVER — The Canadian Press
Published Monday, Jul. 17, 2017 10:02PM EDT
Last updated Monday, Jul. 17, 2017 10:08PM EDT

Two mines in British Columbia have halted some operations in the Cariboo region because of the continuing wildfires.

Taseko Mines Ltd. says it has idled its Gibraltar copper mine as evacuation orders for nearby communities have made it difficult for employees to travel to the site.

The company says it’s unclear when operations will resume.

Meanwhile, Imperial Metals Corp. suspended operations at its Mount Polley mine on Sunday because of an evacuation order for nearby areas and increased restrictions on highway use in the area.

The company says it will resume operations once the situation stabilizes.

Both companies say their mines are not currently threatened by the fires.

The B.C. government declared a provincial state of emergency – its first for a wildfire since 2003 – on July 7, and since then a number of sites including forestry operations have been temporarily shut down or operating at reduced capacity.

Thousands of people have been forced from their homes as emergency responders continue to fight dozens of fires covering hundreds of square kilometres.

Taseko owns a 75-per-cent stake in Gibraltar, which it says is the second-largest open-pit copper mine in the country.

Imperial owns the Mount Polley open-pit copper and gold mine through a subsidiary.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.