Imperial Reports Production Update for Red Chris Mine 2026 Second Quarter
Imperial reports a grade decline in Q2 while reaffirming guidance and maintaining block cave catalysts.
Imperial Metals Corporation reported second-quarter 2026 production results for its 30% stake in the Red Chris mine, revealing a year-over-year decline in output. Copper production fell 24% to 17.92 million pounds, while gold output dropped 36% to 14,591 ounces on a 100% basis. The company attributed the decreases to lower ore grades, reduced mill throughput, and lower gold recovery rates.
Despite the quarterly shortfall, Imperial stated that production remains on track to meet its full-year 2026 budgeted guidance of 60 to 66 million pounds of copper and 47,500 to 52,500 ounces of gold. Progress continues on the feasibility study for the block cave expansion, with key provincial and Tahltan Nation permits already secured. Completion of the study and joint-venture approval are expected in the second half of 2026.
Imperial Metals Corporation (III) announced a decline in Q2 2026 production, a move fully pre-announced in the February 2026 operational outlook that flagged lower grades and a planned stripping sequence. First-half output remains within the annual budget envelope. The company confirmed that the block cave feasibility study is on track, adding no new information beyond the reaffirmed guidance.
The market had already priced in lower 2026 production; the stock fell from $13.36 in late January to approximately $6–7 in recent months, reflecting the reset expectations.
Imperial Metals Corporation (III) is a Vancouver-based producer operating three mines in British Columbia. Its Mount Polley asset is a 100% owned open-pit copper-gold mine with a permitted tailings dam expansion through 2034. The company has issued 2026 guidance of 19-21 million pounds of copper and 40-44,000 ounces of gold.
Imperial Metals holds a 30% interest in the Red Chris mine, with Newmont operating the remaining 70%. This producing open-pit copper-gold mine is considering a proposed block cave expansion that would extend mine life to the mid-2040s and increase Canada’s copper production by approximately 15%. A feasibility study for the project is expected in the second half of 2026.
The company also owns the Huckleberry mine, a historical copper-molybdenum property currently in care and maintenance, with a reopening plan targeted for the end of 2026. Additionally, Imperial Metals holds 23 greenfield exploration properties in British Columbia.