02:09:50 EDT Sat 08 Aug 2020
Enter Symbol
or Name

Login ID:
Imperial Metals Corp (2)
Symbol III
Shares Issued 127,110,479
Close 2019-03-12 C$ 3.28
Recent Sedar Documents

FP/wire say Imperial Metals sells interest in Red Chris

2019-03-12 08:33 ET - In the News

The Financial Post reports in its Tuesday, March 12, edition that Newcrest Mining, the third-biggest gold producer by market value, agreed on an $806.5-million (U.S.) deal to control an Imperial Metals mine in Canada. A Bloomberg dispatch to the Post reports that Melbourne-based Newcrest, with assets in Australia, Indonesia and Papua New Guinea, will acquire a 70-per-cent joint-venture interest in the Red Chris copper and gold mine in British Columbia and become the operator of the site, the producer said Monday. Newcrest's move into Canada comes amid a bout of consolidation in the gold industry, as the largest producers seek to increase the quality of their portfolios, boost reserves or win operational savings. Newcrest remains in a strong position to complete further deals and will continue to review opportunities, chief executive officer Sandeep Biswas said. Red Chris gives Newcrest a producing asset in North America and significant underground development opportunities. Mr. Biswas said: "It's a modest operating asset at the moment -- the real attraction for us is the size of ore body. It's a multi-decade life potential mine. ... It's got the potential of significant size."

© 2020 Canjex Publishing Ltd. All rights reserved.