Connect with us

Hi, what are you looking for?

Saturday, Apr 27, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Mining

Raging wildfires in Quebec force suspension of mining activities

14 mining companies have suspended operations so far

Raging wildfires in Quebec force suspension of mining activities
A fire fighter works near Chapais, in Northern Quebec, on Friday June 2, 2023. Photo via HO-SOPFEU Prevention and Communications Audrey Marcoux

Since the beginning of Spring, Canada has been hit by devasting wildfires in different provinces with the latest being in Northern Quebec.

Northern Quebec is currently grappling with a severe wildfire crisis. Over 150 forest fires are raging across the province, with more than 110 classified as out of control. The largest town in the region, Chibougamau, is being evacuated due to the imminent threat posed by these wildfires.

Other communities in the northern and northwestern parts of the province are also under threat. The intense smoke from the wildfires is causing hazardous air quality issues, not just in Quebec, but also in the northeastern US, turning the air acrid and the sky a yellowish gray.

The wildfires have also had a striking impact on the mining industry in the region. So far,  14 companies including Hecla Mining Company (NYSE: HL), Osisko Mining Inc. (TSX: OSK), Wallbridge Mining Company Limited (TSX: WM), Patriot Battery Metals Inc. (CSE: PMET), Brunswick Exploration Inc. (TSXV: BRW) and Bonterra Resources Inc. (TSXV: BTR), have suspended their operations due to the wildfires.

The Canadian Interagency Forest Fire Center (CIFFC) is closely monitoring the situation. However, the lack of rain in the short term is making it more difficult to fight the fires. The number of fires is well above average for this time of year and nearly 12 times the average for the area burned for this time of year.

Quebec Premier François Legault provided an update on the forest fires, urging residents to prioritize their safety and adhere to instructions from the authorities.

Legault emphasized, “Your life is at stake. When evacuation orders are issued, it indicates a genuine danger.”

Other companies that shut down operations include Troilus Gold Corp. (TSX: TLG), Q2 Metals Inc. (TSXV: QTOO), Champion Electric Metals Inc. (TSXV: EM) and Archer Exploration Inc. (ASX: AXE) as well as the private firms Iron Ore Company of Canada, Quebec Nickel Corporation Inc. and Cosmos Exploration Inc.

Read more: Volatus Aerospace drones cleared to help fight wildfires in Alberta

Read more: Wildfires disrupt cannabis cultivation in southern BC

In response to the escalating wildfire situation in Quebec, Osisko Mining has put a halt to all activities at its Windfall gold project. Despite the suspension, the company does not foresee any significant impact on their business operations.

Wallbridge Mining, on the other hand, has temporarily evacuated its camp at the wholly-owned Fenelon Gold project.

The company has also suspended all exploration activities on its Detour-Fenelon Gold Trend Property in Quebec due to an emergency order related to forest fires. Wallbridge Mining has expressed its intention to resume exploration activities as soon as it is feasible.

Patriot Battery Metals has also responded to the situation by halting field exploration operations at its Corvette property in northern Quebec.

However, the company will continue with lithium processing and advance its camp construction activities in line with government advisories.

Mugglehead has reached out for statements about the ongoing situation and will update the story accordingly.

 

Follow Mugglehead on Twitter

Like Mugglehead on Facebook

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Gold

This decision came as part of Newmont's bid to sell six of its non-core assets

Lithium

The company intends to provide an updated mineral resource estimate to the market in Q3, 2024

Alternative Energy

The investment will be in the form of convertible debt

Lithium

Electric Elements Mining will explore the James Bay region for deposits of the battery metal