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U.S. firm signs deal to explore closed New Brunswick mine
The company says it will use metal sales to finance cleanup and restore the abandoned site without provincial funding, officials said.
- The New Brunswick government signed an exploration deal with U.S.-based Regeneration Enterprises to extract minerals from the long-closed Nigadoo mine site in northern New Brunswick.
- Regeneration is a social enterprise backed by Apple and Caterpillar with a goal of recovering metals from abandoned mines. The Nigadoo mine was permanently shuttered in 1977 after repeated closures.
- Managing director Michael McPhie said the company is not requesting provincial funding and will instead save taxpayer dollars by taking over the degrading site from the provincial government.
- A crew is headed to the site in the coming days to conduct feasibility tests, with results expected within one year and production potentially starting within two to three years.
- Provincial Natural Resources Minister John Herron said the project will "convert something that has been a liability for decades and turn it into new investment, good jobs and a cleaner site." The government expects another mining announcement at the Fredericton conference on Tuesday.
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Total News Sources7
Leaning Left5Leaning Right0Center1Last UpdatedBias Distribution83% Left
Bias Distribution
- 83% of the sources lean Left
83% Left
L 83%
C 17%
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