B.C. wildfires impacting mining/lumber operations are now approaching Trans Mountain pipeline
Reports from news wire service provider Seeking Alpha indicates that BC’s wildfire situation is impacting a number of resource operations in central BC.
Here’s their briefing on the situation, “Among miners, Copper Mountain (OTCPK:CPPMF +4%) says its mine near Princeton, B.C., briefly lost power but is operating normally, Taseko Mines (TGB +2.5%) says its Gibraltar open-pit copper mine in B.C. continues to operate normally, and Teck Resources (TECK +2.7%) is "closely monitoring the situation" at its Highland Valley copper mine.
Wildfires in British Columbia have forced Canadian lumber mills to shut and reportedly have edged closer to Kinder Morgan's (KMI -0.1%) Trans Mountain pipeline.
KMI says it is “taking preventative measures to ensure the safety" of the pipeline, which carries 300K bbl/day of crude oil and refined fuels from neighboring Alberta to the Vancouver area for export to the U.S.
Strand board producer Norbord (OSB -0.5%) says it has temporarily suspended production at its mill in central B.C., and West Fraser Timber (OTCPK:WFTBF) has shut down three locations in B.C.”
Source: Seeking Alpha news wire service