Together with reevaluating its previous multi-year guidance, the company is now reviewing the financial impact of the mine suspension to its longer term capital and exploration programs.
After pressure BHP is exiting oil and gas. Expect similar calls for shelving its $12 billion Jansen potash project in Saskatchewan to fall on deaf ears.
Plans to extend the life of the Voisey's Bay nickel mine in northern Labrador by moving operations underground – already once delayed – are now on hold.
The country's Reserve Bank has ordered platinum and chrome miners to surrender 80 percent of their export earnings to the central bank as the country struggles to contain a crippling dollar note shortage.
The company, to be named Integra Resources Corp, plans to acquire an advanced-stage gold-silver project in Canada or the United States in the next two months, and then apply to list on the TSX Venture Exchange, CEO George Salamis said.