23:02:38 EDT Wed 01 May 2024
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Copper Mountain settles $1.8M suit over milling balls

2024-01-30 21:08 ET - Street Wire

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by Mike Caswell

Copper Mountain Mine (BC) Ltd. has reached an out-of-court deal to settle a $1.8-million lawsuit filed in the Supreme Court of British Columbia over hundreds of tonnes of balls used in the company's milling process. According to the suit, Copper Mountain failed to pay for the balls, leaving the supplier to seek court orders that included a lien over the mine. For its part, Copper Mountain said that the balls were defective, leading to damage in the mill and lost production.

The end of the case is contained in a consent order filed at the Vancouver courthouse on Monday, Jan. 29. The order states that the plaintiff, Moly-cop Canada, has agreed to drop the lawsuit on terms that will include the receipt of $1.8-million. The money was previously paid into the court as part of a garnishing order against Copper Mountain.

Monday's settlement concludes a case that is less than a year old, Moly-cop having filed a notice of claim over the money on May 12, 2023. According to the suit, Moly-cop had been a regular supplier of balls to the Copper Mountain mine going back to October, 2020. It provided balls (described as being 5-1/2 inches in size) from its yard in Kamloops, with Copper Mountain having the right to inspect the balls and refuse any that appeared to be non-conforming, according to the suit. Copper Mountain had 30 days after delivery to make any claim for defect, Moly-cop said.

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