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Published: October 23, 2026 |
Imperial Metals is advancing the definitive feasibility study for the Red Chris Block Cave Mine. The information of the Red Chris Block Cave update is largely adopted from Newmont who is a 70 percent owner.
Imperial has a 30 percent ownership interest in Red Chris project through a joint venture in partnership with the project operator, Newmont. The feasibility study is nearing completion, subject to review and governance oversight with a full funds investment decision now expected in early 2027.
The Red Chris Block Cave project is a large-scale copper-gold opportunity located in the Golden Triangle of British Columbia, Canada. The project is designed to mine the porphyry copper-gold system beneath the existing open pit and includes an underground block cave mine, expansion of existing processing facilities, and upgrades to site infrastructure unlocking higher-grade mineralization at depth.
Advancement in the feasibility study now reflects a more complete view of the investment requirements, schedule and production profile. On a 100 percent ownership basis, the first phase of the project is expected to produce 3 million ounces of gold and more than 1.8 billion pounds of copper over its initial thirteen-year cave life.
Subject to approval by the Red Chris joint venture, construction of the Red Chris Block Cave is expected to commence in 2027, with first production targeted for 2033. The project is expected to ramp up to an average between 275 and 325 thousand ounces of gold per year, and between 145 and 187 million pounds of copper per year between 2035 and 2040.
The Red Chris mine has the potential for up to 70 years of mine life. The initial block cave project establishes the foundation for subsequent phased development, including additional macro blocks, the East Ridge, and other high confidence exploration targets, which are not included in the project metrics presented above. Forty percent of the planned upfront investment in processing facilities, material handling systems, and other key infrastructure is expected to support potential future expansions, providing significant long-term optionality across the project and the broader Golden Triangle district.
The Golden Triangle has been prioritized by both the Provincial Government of British Columbia and the Federal Government of Canada as a region of national importance. Critical minerals, indigenous partnerships, clean energy infrastructure, and Northwest B.C. economic development have been identified as strategic priorities, resulting in enhanced policy support, regulatory attention, and infrastructure investment in the region.
In July 2026, the Government of Canada announced a $500 million contribution to support the project, reinforcing Red Chris as a nationally significant critical minerals project. The Red Chris joint venture is continuing to work with the Canadian government to finalize the terms of the grant and expects to reach an agreement in the coming months.
As the feasibility study nears completion, the project has already achieved several key milestones, including the receipt of amended regulatory approvals from the Province of British Columbia in June 2026 that enable the transition from open pit mining to block caving. The amended environmental assessment certificate was achieved through a consent-based process with the Tahltan Nation, reflecting a shared commitment to responsible resource development, meaningful Indigenous participation and long-term benefits for local communities.
The total estimated development capital for the project incorporating the $500 million grant from the Government of Canada for the development of critical minerals projects, will be released by Imperial following completion of a National Instrument 43-101 technical report prepared for Imperial based on the feasibility study completed by Newmont.
Imperial Metals is a Vancouver based exploration, mine development and operating company with holdings that include the Mount Polley mine (100 percent), the Huckleberry mine (100 percent), and the Red Chris mine (30 percent). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.
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