Canada wildfires prompt lumber price surge, mine shutdowns

July 18, 2017

Responsive image

Wildfires sweeping across British Columbia, the world’s biggest exporter of softwood lumber, sent timber prices surging and forced the closure of two copper mines in the western Canadian province. More than 375 fires have swept across the province, burning forests, displacing an estimated 37 000 people from their homes, and forcing sawmills and mines to shut down or evacuate.  Lumber futures on Monday jumped by the exchange limit in Chicago to the highest in more than two months. Imperial Metals Corp. and Taseko Mines Ltd. both said Monday that they’ve idled mines in the region.

Category: General