15:51:29 EDT Sun 05 May 2024
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Wesdome Gold Mines Ltd
Symbol WDO
Shares Issued 147,525,771
Close 2023-06-19 C$ 7.08
Market Cap C$ 1,044,482,459
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FP says Wesdome CEO ponders future with climate change

2023-06-20 09:24 ET - In the News

The Financial Post reports in its Tuesday edition that risks due to the affects of changing climate conditions could play a key role in assessing the value of mining projects in the industry, experts say. The Post's Naimul Karim writes that risks linked to climate change, however, are not usually measured. Several miners including Wesdome Gold Mines had to stop their activities earlier this month as Canada grappled with one of the worst starts to its wildfire season. Wesdome, which runs the Kiena gold mine in Quebec, had to shut down for a week and pull its staff out due to the risk of wildfire smoke. Chief executive officer Warwick Morley-Jepson said it was the first time he has suspended the mine's operations in the past five years, but he does not expect it to be the last: "It's not only the weather. We do make provisions in our plans because of other interferences as well. If climate change is going to start to rear its head as something that happens very frequently, then certainly, we have to build something in those provisions." A rise in the intensity of fires would also mean higher costs for the company, Mr. Jepson said, since it would have to reconsider how effective the firebreaks around the mine are.

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