Imperial Metals Corporation reported last week that the board of its subsidiary, Huckleberry Mines Ltd., has formally approved a plan to extend the life of its Huckleberry mine to 2021.
The Huckleberry mine is located about 90 km southwest of Houston, B.C. Imperial’s other properties include a proposed lead-zinc mine at Ruddock Creek near Tum Tum Lake east of Avola.
This seven-year extension to the Huckleberry mine will preserve 230 full time and 30 contract positions on site. In addition, about 70 new positions will be created. Over the life of this mine expansion, HML is expected to spend approximately $254.4 million on wages and benefits (excluding contractors), $119.0 million on new acquisitions, and $82.0 million on dam construction.
From start-up in 1997 to Dec. 31, 2010 the aggregate production was approximately 870.0 million pounds copper, 8.0 million pounds molybdenum, 105,000 ounces gold and 3.4 million ounces silver. With the implementation of the mine life extension plan, production from 2011 to 2021 is estimated to be 424.0 million pounds copper, with copper production averaging 43.2 million pounds per year from 2011 to 2019. Production in 2020 and 2021 will be reduced as low-grade stockpiles are milled.
Imperial Metals Corporation holds a 50 per cent interest in Huckleberry Mines Ltd. A consortium consisting of Mitsubishi Materials Corporation, Marubeni Corporation, Dowa Mining Co. Ltd. and Furukawa Co holds the remaining 50 per cent.
Imperial is a mine development and operating company based in Vancouver, British Columbia. In addition to its 50 per cent share in the Huckleberry mine, Imperial owns and operates the Mount Polley open pit copper/gold mine near Williams Lake. Imperial other key properties are the development stage Red Chris copper/gold property in British Columbia and the Sterling gold property in Nevada.
