Red Chris Copper / Gold Mine
Red Chris Mine, which was permitted for construction on May 7th, 2012, will be developed and operated by Imperial Metals. It will be the first operating mine powered by the Northwest Transmission Line.
About This Project
Imperial is working towards development open pit mine with a mill production rate of 30 000 tonnes of ore per day for sale to the export market, over a projected mine life of 25 years. The mine site would be accessed by a new long access road which would intersect highway 37 on the south side by Coyote Creek. The 550 tonnes of concentrate produced per day at the mill would be transported to the deep-sea port of Stewart situated about 200 km to the south of the proposed development.
Imperial Metals anticipates being able to connect to the Northwest Transmission Line at the Bob Quinn hydro station approximately 120 km from the proposed mill site by early 2014.
In July 2010 the Company submitted an Application for a Mines' Act Permit following confirmation by the Supreme Court of Canada on a challenge under CEAA that there was no evidence before it of dissatisfaction with the environmental assessments conducted by the BC Environmental Assessment Office or the responsible authority and no evidence of dissatisfaction with the assessment process from anyone else. The Supreme Court of Canada held that the project could go ahead.
During operations the project will employ approximately 300 hourly, salaried and contract personnel, operating on a fly-in/fly-out basis on a two week rotation. During construction the workforce is expected peak at 500 workers. Chartered aircraft will fly all non-local employees to a nearby airstrip from where they will be bused to the Red Chris property.
Engineering and procurement for Red Chris mine development is proceeding with approximately 38% of the detailed engineering complete, and major long lead items including the SAG mill, ball mill, primary crusher and truck fleet procured. In 2010 capital costs were estimated to be approximately US $450 million.
Red Chris Mine is expecting an after tax internal rate of return on this project of 15.7% at metal prices of US$2.20/lb copper, US$900/oz gold, US$12.00/oz silver, and exchange rate of CDN$1 to US$0.90. At these conservative rates, the project payback is 4.58 years. Imperial Metals is a publicly traded company listed on the Toronto Stock Exchange (ticker: III).
Imperial Metals will have significant spin-off effects to neighbouring communities. With 550 tonnes of concentrate transported to the District of Stewart, it creates opportunities in transportation, environmental consulting, and an array of other services.
More Information Online
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