Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Officers have now closed the blinds at offices of #ImperialMetals where they are executing a search warrant #CBC pic.twitter.com/WEXL1nKEmc
— Meera Bains (@Meerakati) February 4, 2015
Documents were seized from the offices of Vancouver’s Imperial Metals (TSX:III) Tuesday afternoon (February 3) as part of a joint provincial-federal investigation into the Mount Polley mine disaster.
Chris Doyle, an inspector with the B.C. Conservation Officer Service, confirmed a search warrant was executed this afternoon as part of the joint investigation — one of three either underway or concluded.
“The investigation primarily focuses on offences in respect to the Environmental Management Act and the federal Fisheries Act, but it’s not limited to those acts,” Doyle told Business in Vancouver.
The investigation involves the provincial Conservation Officer Service, Environment Canada, Department of Fisheries and Oceans Canada and the RCMP.
Imperial Metals has been under scrutiny since last year’s Mount Polley mine disaster. On August 4, a dam containing tailings from the mine collapsed.
The B.C. government ordered a series of investigations, including a technical probe by a three-person panel of engineers, which made its findings public January 30. That panel concluded that the cause of the dam’s collapse was largely a design issue. Also ongoing is an investigation being led by the Chief Inspector of Mines.
A spokesperson for Imperial Metals could not be reached for comment.
