Analyst expects the constellation of base metals companies under coverage’s second quarter results to fall below expectations when they start reporting results from month's-end.

Move is a bid to reverse the cancellation of mineral leases for the company's proposed copper and nickel mine.

The Horne smelter is the only copper smelter still operating in Canada.

Also weighing on industrial metals are aggressive increases in interest rates by the US Federal Reserve.

The company also expects trading to be halted on the Lima Stock Exchange, OTCQX and the Frankfurt Stock Exchange, and that its common shares may be delisted.

Automakers have sealed agreements with Canada to secure access to raw materials such as nickel, cobalt and lithium for battery production.

Eight workers were trapped in the mine after the deadly flood in April and searches were ongoing—the bodies were all recovered in June.

In its Q2 report, the Canadian miner said the halt followed continued operational performance issues due to low productivity rates and equipment and operator availability from the mining contractor.