Latest news with #MineARC
The Market Online
6 days ago
- Business
- The Market Online
Market Open: TSX Futures Slip as Traders Brace for U.S. Tariff Call
Futures tied to Toronto's main index slipped on Friday as investors watch closely, hoping the United States will hold off on imposing steep import levies. Market Numbers (Futures) TSX : Down ( 0.20%) 27,317.51TSXV: Down (0.19%%) 802.93DOW: Up (0.08%) 44,934.00NASDAQ: Down (0.05%) 23,366.25 FTSE: Down (0.36%) 9,105.15 In the Headlines: Three contractors working for Hy‑Tech Drilling were successfully rescued late Thursday after being trapped for more than 60 hours underground at Newmont Corp.'s Red Chris gold and copper mine in northern British Columbia. The Denver‑based operator said the rescue operation involved drones to assess subsurface conditions and a remote‑controlled scoop to clear a rockfall estimated at 20–30 meters long and nearly eight meters high. Once access was restored, emergency teams reached the MineARC refuge chamber where the workers had consistent access to food, water, and air, and brought them to safety. Newmont described the operation as 'carefully planned and meticulously executed' and noted that all three men, Kevin Coumbs, Darien Maduke, and Jesse Chubaty, were in good health and spirits. The mine's production remains suspended pending a thorough review and independent investigation into the incident. Currencies Update: (Futures) The Canadian dollar sinks over 0.30% to $0.7287 U.S., with the euro also edging down 0.05% to $0.6233, while Bitcoin takes a beating, dropping more than $3,310.66 or 2.04% to C$158,797.10 in a sharp crypto slide. Commodities: (Futures) Natural Gas: Up (1.78%), 3.14WTI: Up (0.60%), 66.43Gold: Down (0.81%), 3,340.92 Copper: Up (0.28%) 6.08 To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
The Market Online
6 days ago
- Business
- The Market Online
Three workers trapped in B.C.'s Red Chris mine, rescue efforts underway
Imperial Metals (TSX:III) reported two fall of ground incidents that occurred on July 22 at the Red Chris copper-gold mine in British Columbia At the time of the initial ground fall, three contractor employees were working more than 500 metres beyond the affected zone The second incident restricted communication with the workers, prompting a full operational standdown at Red Chris to prioritize rescue efforts Imperial Metals stock (TSX:III) last traded at C$4.23 Imperial Metals (TSX:III) reported two fall of ground incidents that occurred on July 22 at the Red Chris copper-gold mine in British Columbia, where the company holds a 30 per cent interest. The incidents took place in the access way to an underground work area of a non-producing section of the mine. This content has been prepared as part of a partnership with Imperial Metals Corp. and is intended for informational purposes only. At the time of the initial ground fall, three contractor employees were working more than 500 metres beyond the affected zone. They were promptly directed to relocate to a designated refuge station. A second fall of ground subsequently blocked the access way and disrupted communication with the workers. Initial contact confirmed the individuals had safely reached one of several self-contained MineARC refuge chambers, which are equipped with food, water, and ventilation systems designed to support extended stays. However, the second incident restricted further communication, prompting a full operational standdown at Red Chris to prioritize rescue efforts. Newmont Corp. (NYSE:NEM), the mine operator, has activated all emergency response protocols and is coordinating with industry partners to restore communication and access. Specialist teams from nearby mine sites have been mobilized, and advanced technologies are being deployed, including drones to assess underground geotechnical conditions and a remote-controlled scoop from the Brucejack mine to begin debris removal. The debris blocking the access way is estimated to be 20 to 30 metres long and seven to eight metres high. Fortunately, the refuge chamber area remains stable and well-ventilated. The workers are believed to be sheltering in a chamber designed to support up to 16 people, with additional chambers nearby if needed. Newmont is also working to restore the mine's leaky feeder communication system to re-establish contact with the workers. Production at Red Chris has been paused to ensure full focus on the rescue operation. Q2 production results In a separate update, Imperial Metals also reported its second-quarter production results from the Red Chris mine. For the period ending June 30, 2025, total mine production (100 per cent basis) reached 23.479 million pounds of copper and 22,624 ounces of gold. This marks a significant increase from the same period in 2024, which saw 20.731 million pounds of copper and 12,531 ounces of gold. Copper production rose 13 per cent year-over-year, driven by a 17 per cent increase in copper grade (0.547 per cent vs 0.466 per cent), despite a slight decrease in throughput. Gold production surged 81 per cent, attributed to higher gold grades and improved recovery. For the first half of 2025, copper output increased by 25 per cent and gold production more than doubled—up 101 per cent—compared to the same period in 2024, reflecting continued operational improvements at the site. The company still emphasized that the safety of the three workers and the emergency response teams remains the top priority as efforts continue to bring the individuals safely to the surface. Imperial Metals Corp. owns the Mount Polley mine, the Huckleberry mine, and Huckleberry copper mines and the Red Chris copper / gold mine. Imperial Metals stock (TSX:III) last traded at C$4.23 and has risen 132.42 per cent since the year began. Join the discussion: Find out what the Bullboards are saying about Imperial Metals and check out Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here .
