Hit by tailings breach costs, Imperial Metals swings to loss in Q3

A catastrophic tailings dam breach at its Mount Polley mine in British Columbia has taken a toll on Imperial Metals' (TSX:III) bottom line.
Reporting its third-quarter results on Friday, the Vancouver-based company said it suffered a $49.2 million quarterly loss, compared to net income of $14.7 million in the third quarter of 2013.
In early August, the tailings dam at the Mount Polley copper and gold mine northeast of Williams Lake collapsed, plugging local creeks and nearby Quesnel Lake with million of cubic metres of water and tailings. The mine has ceased operations since the breach on Aug. 4.
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