Revett decision next week

Admitting he is less optimistic than he has been, Revett Minerals, Inc., CEO John Shanahan said a decision about the mine will come at the end of next week.

“We haven’t laid anyone off. We have a great crew, and we’re trying to work through this,” Shanahan said Thursday.

Shanahan said mine representatives are working with Mine Health and Safety Administration officials every day at the mine site. The MSHA officials arrived last Thursday, Jan. 3.

“Each day we’re making an assessment, working on a plan. All I can tell you is it’s not complete. We’re doing this piecemeal, day by day,” Shanahan said.

Shanahan said he expects a decision by Jan. 18 on the duration of the stoppage.

“We’re looking (at making a decision) by the end of next week,” Shanahan said. “We’re still trying to figure out the damage.”

In early December, Revett officials voluntarily scaled back day-to-day operations at the mine. Up until mid-December, there was limited mineral extraction going on at the site, Shanahan said.

“We feel like we made the correct decision from the get-go to scale back,” Shanahan said. “Safety has been our main concern.”

Underground work was scaled back on Dec. 1 by Revett Chairman Tim Lindsey because of falling rock.

A 2.9-magnitude earthquake was record near the mine on Dec. 5.

The U.S. Geological Survey reported the quake at 3:41 a.m. Dec. 5 with an epicenter 35 kilometers (21 miles) southwest of Libby. 

“I’ve been pretty optimistic all along about resuming operation soon. I suppose now you can say I’m less optimistic,” Shanahan said.

The Troy Mine employs about 205 people, half of whom work underground.

Shanahan has long hoped excavation of the Troy Mine would continue until the start-up of the Rock Creek Mine just south in Sanders County, a project that has yet to get approval.

“We’ve always felt like Troy would be a bridge to Rock Creek,” Shanahan said Thursday. “We’re going to be down awhile, but we don’t know how long.”

Bruce Vincent, a consultant for the mine and co-owner of Environomics, quelled any notion the mine has reached its end.

“They are pulling 4,000 tons out of there a day, and it’s estimated there are deposits for another seven years,” Vincent said.

Vincent said summertime sampling uncovers additional ore deposits, which he said would prolong the life of the silver and copper mine.

Vincent said it’s still unclear whether another entrance will need to be cut to access that ore.

“That’s the frustrating part. We just don’t know,” Vincent said. “We’re encouraged. We feel like the mountain has stabilized.”