NEW BRUNSWICK – Vancouver-based Trevali Mining Corp. and the New Brunswick government have signed a environmental agreement covering the historic Caribou zinc-lead-copper mine and mill in the Bathurst Mining Camp. The deal calls for Trevali take responsibility for environmental liability and reclamation costs associated with closure of the mine, other than in respect to any historic liabilities.
Trevali president and CEO Dr Mark Cruise said "With this agreement in place Trevali can now move another step forward in its near term activation plans for its Caribou and Halfmile operations, which will form the foundation for the company's long term growth strategies in the Bathurst Mining Camp."
Trevali acquired the Caribou mine and mill from a private company for an implied price of $22 million. Trevali was particularly interested in the modern 3,000-t/d concentrator because the company has three deposits nearby that could supply ore for it – Caribou, Halfmile and Stratmat. Successful test mining at Halfmile was done in 2012, and the company plans to begin operating the Caribou mill late this year.
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