Imperial Metals Announces Suspension of Operations at Mount Polley Mine
VANCOUVER, British Columbia, Jan. 07, 2019 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (the “Company”) (TSX:III) reports that due to declining copper prices, operations at the Mount Polley mine will be suspended. The suspension plan includes milling of low grade stockpiles which is targeted to extend operations to the end of May 2019. There will be no impact to the mine’s ongoing environmental monitoring and remediation program. Full operations will resume once the economics of mining at Mount Polley improve.
Mount Polley mine is located in south-central British Columbia, 56 kilometres northeast of Williams Lake. The Mount Polley mine is owned and operated by Mount Polley Mining Corporation, a subsidiary of the Company.
Imperial is a Vancouver exploration, mine development and operating company. The Company, through its subsidiaries, owns the Red Chris, Mount Polley and Huckleberry copper mines in British Columbia. Imperial also holds a 50% interest in the Ruddock Creek lead/zinc property.
Brian Kynoch | President | 604.669.8959
Andre Deepwell | Chief Financial Officer | 604.488.2666
Cautionary Note Regarding Forward-Looking Statements
Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, specific statements regarding the planned suspension of operations pending an improvement in the economics of mining at Mount Polley, the anticipated extension of such operations to the end of May 2019 through measures such as the milling of low grade stockpiles, and the continuation of the mine’s ongoing environmental monitoring and remediation program. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risk factors detailed from time to time in the Company's management's discussion and analysis of the interim and annual financial reports, all of which are filed and available for review on sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.