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Imperial Metals Corporation ("Imperial") (TSX:III,OTC:IPMLF) is pleased to report that the Province of British Columbia has granted key authorizations approving the transition of Red Chris from open pit operations to a block cave mine. The authorization of an amended Environmental Assessment Certificate, following a consent-based framework with the Tahltan Nation, and an amended Mines Act authorization effectively permit an extension of mine life into the mid-2040s.
The Red Chris mine is situated in an emerging world-class mining district boasting significant mineralization, access to reliable, clean hydroelectric power, port access, governmental support and strong First Nations economic leadership. A Definitive Feasibility Study and a detailed cost estimate are being completed by the Newmont Corporation as operator of the Red Chris mine. During this phase, the Red Chris Block Cave is expected to generate over 1,800 construction jobs, sustain approximately 1,500 peak-season operating roles and increase Canada's copper production by roughly 15 percent.
"With the authorizations granted by the Province and the support of the Tahltan Nation, the stage has been set for the development of Red Chris into a Block Cave mine. These approvals are a critical step in advancing a final investment decision by the joint venture partnership (Newmont Corporation 70%, Imperial 30%) expected later this year. That keystone decision will unlock the potential for Red Chris to become a significant, multigenerational mine," said Brian Kynoch, President of Imperial.
About Imperial
Imperial is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.
Company Contacts
Brian Kynoch | President | 604.669.8959
Steve Robertson | Vice President Corporate Development | 604. 669.8959
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this news release are not statements of historical fact and are "forward-looking" statements. Forward-looking statements relate to future events or future performance and reflect Imperial management's expectations or beliefs regarding future events and include, but are not limited to, statements regarding the permitting and future development of the Red Chris open pit mine into a multigenerational block cave mine, including the Definitive Feasibility Study, economic impact through the creation of jobs, and the estimated percentage increase of Canadian copper production contributed by the Red Chris mine; timing and expectations for the Red Chris Joint Venture final investment decision; and other risks outlined in statements made by Imperial from time to time in the filings made by Imperial with securities regulators. Imperial disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except as otherwise required by applicable securities legislation.
In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "outlook", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. 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 Imperial to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
In making the forward-looking statements in this news release, Imperial has applied certain factors and assumptions that are based on information currently available to Imperial as well as Imperial's current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include, the risk factors detailed from time to time in Imperial's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR+ at www.sedarplus.ca. Although Imperial 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, imperialmetals.com events or results not to be as anticipated, estimated or intended, many of which are beyond Imperial's ability to control or predict. 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 and all forward-looking statements in this news release are qualified by these cautionary statements.
