Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
A tailings berm breached during the Mount Polley mine disaster has yet to be repaired to the point it can withstand the arrival of water coming from melting snow this coming spring, according to a November 24 progress report from the Ministry of Environment.That’s just one of the more than a dozen items the government said must be completed to ensure human health and environmental safety goals are met in the short term.
In early August, a tailings pond breach at Imperial Metals’ (TSX:III) Mount Polley sent 17 million cubic metres of water gushing through the Cariboo region.
In a letter addressed to Mount Polley Mining Corporation, the Ministry of Environment said it’s also awaiting plans for a fish control structure for Polley Lake and plans to mitigate windblown dust from the tailings storage facility.
