The numbers just do not add up. As I read the many sites on the web, I learn that British Columbia has about thirty operating mines. The BC government has about $172 million in closure bonds. Say about five or six million a mine. That seems grossly inadequate to me. I have just finished estimating closure of one mine and it came to nearly $60 million. Does this mean BC should have $1.7 billion in closure bonds? Here are some observations from various websites that may help you ponder this issue. (more…)
Archive for the ‘Investing & Finance’ Category
Posted in About the news, British Columbia, consulting, environmental, Investing & Finance, Mining history, Tailings, tagged casa beradi, duke energy, gullbridge, HB mine, mt polley, obed mountian, padcal, tailings failures on August 12, 2014 | 15 Comments »
Here are the stories of the seven dam failures that have occurred since the beginning of 2012. Six are failures of tailings facilities. The seventh is a rockfill dam. The following are extracts from technical papers that I wrote well before the Mt Polley failure. Details of the first three are available at this link. Details of the remaining four are in a paper that I will present at the Tailings and Mine Waste 2014 conference in Colorado in October of this year. (more…)
So the legal trials and travails begin. Here is the first announcement:
LONDON, Ontario–(BUSINESS WIRE)–Siskinds LLP today announced the commencement of an investor class action against Imperial Metals Corporation (“Imperial”) (TSX:III) and certain of its directors, officers and related parties. The action relates to the circumstances surrounding the failure of the tailings facilities at Imperial’s Mount Polley gold and copper mine near Likely, British Columbia on August 4, 2014. The action is brought to recover losses suffered by persons who acquired common shares or notes of Imperial between August 15, 2011 and August 4, 2014.