Imperial Announces Agreement with BC Hydro to Extend the Northwest Transmission Line
22 Marzo 2013 - 3:25PM
Marketwired
Imperial Metals Corporation (TSX:III) is pleased to announce it has
entered into a Transmission Development Agreement with BC Hydro for
the construction of a transmission line (NTL Extension) that will
extend the 287kV Northwest Transmission Line (NTL) in northwest
British Columbia from Bob Quinn to Tatogga, a distance of
approximately 93 kilometres.
The NTL Extension will provide clean, grid-supplied power to
residents of Iskut and to the Red Chris Mine, and will support
future development providing jobs and economic activity in this
region of the Province.
The NTL Extension will be constructed by a subsidiary of
Imperial. Upon completion, the NTL Extension will be acquired by BC
Hydro. That portion of the costs which exceed $52.0 million will be
borne by Imperial as its contribution to the NTL Extension in order
to make the 287kV service connection to the Red Chris Mine. In
addition, Imperial will contribute to the cost of building the NTL
through a special tariff approved by the BC Utilities Commission.
The expected in service date for both the NTL Extension and the NTL
is May 31, 2014. Construction will commence upon receipt of
required permits.
Imperial is an exploration, mine development and operating
company based in Vancouver, British Columbia. The Company operates
the Mount Polley open pit copper/gold mine and has 50% interest in
the Huckleberry open pit copper/molybdenum mine. Imperial is
developing its wholly owned Red Chris copper/gold property and the
Ruddock Creek lead/zinc property (50% joint venture) and is
operator of its wholly owned Sterling gold heap leach property. All
the Company's properties are located in British Columbia with the
exception of Sterling in Nevada, USA.
CAUTIONARY NOTE REGARDING "FORWARD-LOOKING INFORMATION":
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS" WITHIN
THE MEANING OF CANADIAN AND UNITED STATES SECURITIES LAWS. EXCEPT
FOR STATEMENTS OF FACT RELATING TO THE COMPANY, CERTAIN INFORMATION
CONTAINED HEREIN CONSTITUTES FORWARD-LOOKING STATEMENTS.
WHEN WE DISCUSS THE CONSTRUCTION AND COSTS OF THE NTL EXTENSION,
OR OTHER THINGS THAT HAVE NOT YET HAPPENED IN THIS NEWS RELEASE, WE
ARE MAKING STATEMENTS CONSIDERED TO BE FORWARD-LOOKING INFORMATION
OR FORWARD-LOOKING STATEMENTS UNDER CANADIAN AND UNITED STATES
SECURITIES LAWS. WE REFER TO THEM IN THIS NEWS RELEASE AS
FORWARD-LOOKING INFORMATION. THE FORWARD-LOOKING INFORMATION IN
THIS NEWS RELEASE TYPICALLY INCLUDES WORDS AND PHRASES ABOUT THE
FUTURE, SUCH AS: PLAN, EXPECT, FORECAST, INTEND, ANTICIPATE,
ESTIMATE, BUDGET, SCHEDULED, BELIEVE, MAY, COULD, WOULD, MIGHT AND
WILL.
WE CAN GIVE NO ASSURANCE THAT THE FORWARD-LOOKING INFORMATION
WILL PROVE TO BE ACCURATE. IT IS BASED ON A NUMBER OF ASSUMPTIONS
MANAGEMENT BELIEVES TO BE REASONABLE, INCLUDING BUT NOT LIMITED TO
PROJECTS BEING COMPLETED IN ACCORDANCE WITH THEIR ESTIMATES AND
ACHIEVE EXPECTED OUTCOMES, AND SUCH OTHER ASSUMPTIONS AND FACTORS
AS SET OUT HEREIN. IT IS ALSO SUBJECT TO RISKS ASSOCIATED WITH OUR
BUSINESS, INCLUDING BUT NOT LIMITED TO: RISKS INHERENT IN THE
MINING AND METALS BUSINESS; COST OF CONSTRUCTION MATERIALS AND
LABOUR; COMMODITY PRICE FLUCTUATIONS AND HEDGING; COMPETITION FOR
MINING PROPERTIES; SALE OF PRODUCTS AND FUTURE MARKET ACCESS;
MINERAL RESERVES AND RECOVERY ESTIMATES; CURRENCY FLUCTUATIONS;
INTEREST RATE RISK; FINANCING RISKS; ENVIRONMENTAL RISKS; FOREIGN
ACTIVITIES; LEGAL PROCEEDINGS; PERMITTING AND OTHER RISKS THAT ARE
SET OUT IN OUR ANNUAL INFORMATION FORM AND MANAGEMENT'S DISCUSSION
& ANALYSIS. IF OUR ASSUMPTIONS PROVE TO BE INCORRECT OR RISKS
MATERIALIZE, OUR ACTUAL RESULTS AND EVENTS MAY VARY MATERIALLY FROM
WHAT WE CURRENTLY EXPECT AS SET OUT IN THIS NEWS RELEASE.
WE RECOMMEND YOU REVIEW OUR ANNUAL INFORMATION FORM AND ANNUAL
MANAGEMENT'S DISCUSSION AND ANALYSIS, WHICH INCLUDE A DISCUSSION OF
MATERIAL RISKS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM OUR CURRENT EXPECTATIONS. FORWARD-LOOKING INFORMATION IS
DESIGNED TO HELP YOU UNDERSTAND MANAGEMENT'S CURRENT VIEWS OF OUR
NEAR AND LONGER TIME PROSPECTS, AND IT MAY NOT BE APPROPRIATE FOR
OTHER PURPOSES. WE WILL NOT NECESSARILY UPDATE THIS INFORMATION
UNLESS WE ARE REQUIRED TO BY SECURITIES LAWS.
Contacts: Imperial Metals Corporation Brian Kynoch President
604.669.8959 Imperial Metals Corporation Gordon Keevil Vice
President Corporate Development 604.488.2677 Imperial Metals
Corporation Sabine Goetz Investor Relations
604.488.2657info@imperialmetals.com www.imperialmetals.com
Imperial Metals (TSX:III)
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