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Imperial Metals Says "Major" Regulatory Authorizations Granted to the Red Chris Mine for Its Block Cave Project

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Imperial Metals (III.TO) on Friday said the Province of British Columbia granted "key authorizations" approving the transition of its 30%-owned Red Chris mine from open pit operations to a block cave mine.

The approvals effectively permit an extension of mine life into the mid-2040s, said the company.

Newmont (NEM), the mine's operator, is completing a definitive feasibility study and a detailed cost estimate, added Imperial.

"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," said Imperial President Brian Kynoch. "These approvals are a critical step in advancing a final investment decision by the joint venture partnership expected later this year. That keystone decision will unlock the potential for Red Chris to become a significant, multigenerational mine."

The company's shares were last seen up C$0.19 to C$7.12 on the Toronto Stock Exchange.

Price: $7.12, Change: $+0.19, Percent Change: +2.74%

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