
More delays
But current miners aren't the only ones feeing the repercussions of the Mount Polley breach. Pacific Booker Minerals (TSX:BKM), which has been waiting on the BC government's reconsideration of the $2.5-billion Morrison project, recently received notice from Environment Minister Mary Polak that the mine proposal will face further delays. An information bulletin posted by the Environmental Assessment Office states that the minister has suspended the assessment of the project "pending the outcome of the Independent Expert Engineering Investigation and Review Panel in relation to the tailings dam breach at the Mt. Polley mine." For investors unfamiliar with Pacific Booker's plight, the company's proposal for the Morrison mine, an open-pit operation 65 kilometers north of Smithers, was first rejected by the former ministers of energy and mines and the environment in 2012. The company then sued the province over the decision and won the right for the proposal to be reconsidered. Last December, BC's Supreme Court overturned the province's rejection, ruling that the company hadn't been given ample opportunity to respond to concerns raised in an environmental assessment process that would have otherwise had a favorable outcome for the company. Pacific Booker is now at a standstill due to the suspension from Polak. Also of note... While no other companies awaiting permits or environmental approval have mentioned disruptions to their timelines, perhaps it is something that investors should file away as a possibility. With the BC government focusing its efforts on regaining public confidence in the mining sector, it is possible stricter guidelines will be put in place when it comes to environmental approvals. That means the process for environmental approval could conceivably take longer than expected, causing more delays in the future. Securities Disclosure: I, Vivien Diniz, hold no direct investment interest in any company mentioned in this article. Related reading: Imperial Metals Down 42 Percent After Tailings Pond BreachImperial Metals President Comments on Remediation Costs, Timeline
BC Calls for Independent Third-party Review of Tailings Ponds Across Province from Copper Investing News