It’s too soon to determine the extent of damage and cost of repairs caused by the Aug. 4 Mount Polley Mine tailings pond failure, officials say. The blowout dumped about 2.6 million gallons of water and 5.9 million cu yd of sand and silt into two lakes and a creek in western Canada.
But a clue to the costs came as mine owner Imperial Metals Corp., Vancouver, British Columbia, announced Aug. 14 it would issue $100 million in bonds, in addition to insurance payments, to pay for remediation at the mine. British Columbia officials say Imperial is responsible for “all costs associated with the cleanup of the breach.”