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N. Murray Edwards

N. Murray Edwards
Based in Canada
Active in Canada
Targeted base metals, energy fuels, copper

N. Murray Edwards, one of Canada’s richest men, is notorious as one of the biggest investors in so-called oil (or tar) sands in Alberta, Canada – alleged to be one of the dirtiest sources of fuel. Edwards manages the Canadian Natural Resources fund, and holds 38.5% of Imperial Metals.

In summer 2014, a tailings pond, operated by Imperial Metals at its Mount Polley copper mine in British Columbia, sustained a collapse which earned it the unenviable description of being "the largest mining environmental disaster in Canadian history" [see:http://www.minesandcommunities.org/article.php?a=13070

But, in May the following year, N Murray Edwards agreed to lend Imperial Metals US$25 million (Cdn$30m)in order to re-open Mount Polley, and fund the company's Red Chris gold and copper project, also in British Columbia. Imperial Metals said it would launch a Cdn$80 million rights offering to repay the loan. As mining.com put it: "This is not the first time that Edwards, Imperial’s largest shareholder, gives the Vancouver-based firm a much-needed helping hand. After the major spill at the company’s Mount Polley mine last summer, he backed a Cdn$100 million bond sale to help fund the clean-up".

As a billionaire mining promoter and owner of Edco Capital Corp, Edwards is also a keen supporter of spectator sport. He co-owns Canada’s hockey team Calgary Flames [mining.com, 19 May 2015].

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