Imperial Metals Corporation announced today that it will be suspending operations at the Mount Polley mine, east of Williams Lake, at the end of May.
The company is citing declining copper prices, around $3 per pound, as the reason for the shutdown. 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, according to a statement issued by the company.
According to the Imperial Metals website, about 370 people are employed at the mine.