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Declining copper prices prompt Imperial Metals to suspend Mount Polley ops

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Declining copper prices prompt Imperial Metals to suspend Mount Polley ops

Due to declining copper prices, Imperial Metals Corp. decided to suspend operations at its Mount Polley mine in British Columbia.

The suspension plan includes the milling of low grade stockpiles, which is expected to extend operations to the end of May.

Imperial Metals said Jan. 7 that the move will not affect the ongoing environmental monitoring and remediation program at the site.

The company will fully resume operations once the economics of mining at Mount Polley improve.

Mount Polley is owned and operated by the company's Mount Polley Mining Corp. subsidiary.

In December 2018, the company tapped Bank of Montreal to expedite a formal restructuring process that could include a US$1 billion company sale, Reuters cited sources as saying.