13:40:02 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
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Imperial Metals Corp (2)
Symbol III
Shares Issued 81,761,028
Close 2016-09-26 C$ 6.01
Market Cap C$ 491,383,778
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Imperial Metals engineer says warnings went unheeded

2016-09-27 10:15 ET - Street Wire

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by Mike Caswell

Knight Piesold Ltd., a former engineer on Imperial Metals Corp.'s Mount Polley mine, denies that it was to blame for the much-publicized tailings dam failure that occurred in 2014. It says that it provided warnings about the condition of the dam to the mine's operator, Imperial Metals. It claims that its advice went unheeded after Imperial Metals hired another engineer in early 2011.

Knight Piesold is responding to a lawsuit that Imperial Metals filed in the Supreme Court of British Columbia on July 4, 2016, over the failure of the tailings dam. The dam was part of the Mount Polley open pit copper-gold mine, located near Williams Lake, B.C. On Aug. 4, 2014, earth below a section of the dam's perimeter slipped. This led to an embankment collapsing, and a subsequent release of tailings. As a result of the failure, the mine was shut down for just over a year. Imperial Metals partly blamed the failure on Knight Piesold, which designed the dam in the 1990s.

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