A deal to get surplus power from B.C. Hydro at a discount price will enable Brenda Mines to extend the life of its open pit copper/molybdenum mine near Peachland, B.C., for an extra year, it has been announced.
The discount will enable the mine to continue operating until the middle of 1990, preserving from 300 to 400 man-years of employment, and maintaining a $15-million-per-year payroll.
The discount, which extends from July, 1989, to July, 1990, is based on world copper prices and varies from a rate of zero to 50%. Brenda had earlier received a hydro discount under an agreement worked out by B.C.’s Critical Industries Commissioner.
The Brenda mine closed down in late 1984, but was reopened in the fall of the following year, with government assistance.
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