Vancouver — In yet another blow to the beleaguered mining industry in British Columbia, Imperial Metals (IPM-T) plans to suspend mining and milling operations at its wholly owned Mount Polley copper-gold mine near Williams Lake.
Citing low prices for copper and gold, Imperial will cease operations at Mount Polley on Sept. 30. The mine will be put on standby.
Production is expected to resume when metal prices improve. Mount Polley is an open-pit copper-gold mine. It produced 8.5 million lbs. copper and 24,000 oz. gold during the quarter ended March 31. Milling grades during the quarter came in at 0.31% for copper and 0.58 gram per tonne for gold. Last year, Imperial acquired the 47.5% stake it did not already hold in the mine from Japan-based Sumitomo for $4.5 million in cash.
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