Peter Mah

Senior exec leaves mining company

Alloycorp has plans for molybdenum mine in northwestern B.C.

  • Nov. 20, 2015 7:00 a.m.

THE COMPANY that wants to build a molybdenum mine at Kitsault on the north coast has lost another senior executive.

Peter Mah has resigned as the chief operating officer of Alloycorp and as president of its subsidiary, Avanti Kitsault Mine Ltd.

The brief announcement was made Nov. 18 with Alloycorp thanking Mah for his service.

Mah was just appointed to the two positions last December.

His resignation follows that of Gordon Bogden who stepped down as president of chief executive officer of Alloycorp in September.

Alloycorp, through its Avanti subsidiary, had fully expected to be building its mine this year but failed to obtain all of the financing it needed.

It also suffered from weak markets for molybdenum which is used as a strengthening agent in steel making.

The company put the project on hold this summer while it commissioned a revised engineering study to better firm up ore recovery expectations and capital costs.

Two weeks ago, Alloycorp released its revised engineering and cost study which added another $395 million to the project budget, pushing the estimated total needed to $1.2 billion.

The project does have provincial and federal environmental approvals and also an economic benefits agreement with the Nisga’a Nation as its location is within territory over which the Nisga’a have an influence as set out in their 2000 land claims agreement.

Alloycorp had also lined up six European institutions as tentative investors with only two, in the end, committing themselves to the project.

Beginning last year, the company did build a 150-person camp at its location in anticipation of a construction start, built a road to the mine site and rebuilt a provincial government bridge over the Nass River so that it could move in heavy equipment.

That work was completed this year.

 

 

 

 

 

Just Posted

Minister of Tourism, Arts and Culture visits Nass Valley

Nisga’a Nation has great potential for Indigenous tourism, says Minister Lisa Beare

Steller’s jays found in Terrace covered in red paint

Conservation office taking tips in what’s become a three-year mystery

Important to include community in emergency training, says Terrace fire chief

The city and Kitsumkalum were a part of CN Rail’s train derailment seminar

Upper Skeena Recreation Centre evacuated after ammonia leak detected

The leak was related to refrigerators responsible for ice maintenance of the skating rink

Skeena Voices | The perfect fit

Seamstress Elaine Craig opened her own customized dress shop to empower women

‘I shouldn’t have done it,’ Trudeau says of brownface photo

Trudeau says he also wore makeup while performing a version of a Harry Belafonte song

The Northern View announces inaugural Tyee Fishing Derby in Prince Rupert

More than $7,000 up for grabs for biggest legal salmon and halibut

35 of 87 dogs in 2018 Williams Lake seizure were euthanized due to behavioural issues, BCSPCA confirm

The dogs did not respond to the behaviour modification and remained terrified of humans

B.C. ‘tent city’ disputes spark call for local government autonomy

UBCM backs Maple Ridge after province overrules city

B.C. drug dealers arrested after traffic stop near Banff turns into helicopter pursuit

Antonio Nolasco-Padia, 23, and Dina Anthony, 55, both well-known to Chilliwack law enforcement

B.C. MLA calls on province to restrict vaping as first related illness appears in Canada

Todd Stone, Liberal MLA for Kamloops-South Thompson, introduced an anti-vaping bill in April

Chilliwack woman wins right to medically assisted death after three-year court battle

Julia Lamb has been the lead plaintiff in a legal battle to ease restrictions on Canada’s assisted dying laws

Most Read