New life for Lac des Iles Mine
Impala Canada’s Lac Des Iles Mine is going to remain open longer than anticipated.
In a message to employees of the mine on Thursday, CEO Tim Hill announced that the recent increases in the price of palladium have enabled Impala to extend mine production until the summer of 2027.
The mine closure was initially announced by Hill in July.
The initial plan was to close the Lac Des Iles facility at the end of May 2026.
“This one-year extension is not our end goal; it is a window of opportunity,” said Hill in the internal message. ” We will use this time to advance our work toward a long-term tailings solution for LDI in order to extend mine life for years to come.”
“Our success continues to depend on the palladium price, our production rates, and our cost structure, today and going forward. But I am confident in our team at LDI; you have remained professional and dedicated during a difficult period. Your commitment to safety, production, and cost control has placed our business in a position of strength.”
The facility which mines palladium employs roughly 800 people.
The organization says a prolonged period of low palladium prices led to the decision.
The mine is located approximately 90 minutes northwest of Thunder Bay.
