The move follows the Nevada Copper’s announcement last week that it had “significantly scaled down operations” at the Nevada-based copper mine after failing to secure necessary funding to keep the project running.
The Vancouver-based miner had said earlier this year it required additional funding to meet ongoing challenges at Pumpkin Hollow, where it restarted operations in the fourth quarter of 2023. Issues encountered included a build-up of water underground, incomplete ore handling system and unexpected bottlenecks that caused repeated shutdowns of the processing plant.
Nevada Copper has asked for standard support measures for its employees and essential vendors as part of the Chapter 11 process. It is seeking approval from the court to continue paying employee salaries, wages, and benefit programs, regardless of any outstanding amounts prior to filing for bankruptcy.
To ensure liquidity during the restructuring…
