NEWFOUNDLAND - Canada Fluorspar of Toronto held the ceremony marking the start of redevelopment of its St. Lawrence mine in the town of the same name today. The project carries a pre-production price tag nearly $98 million to restart the mine and plant at an annual rate of 122,000 t/y of fluorspar concentrate.
The ribbon cutting was attended by a number of dignitaries, including Newfoundland and Labrador Premier Kathy Dunderdale. She brought with her the announcement that the province is making a $17-million contribution to the project. The repayable loan will help finance a new deep-water port facility for concentrate shipments.
"This is a tremendous day for St. Lawrence and the entire Burin Peninsula," said Premier Dunderdale. "After decades of inactivity, I am pleased that my government can help support Canada Fluorspar. Their work at the St. Lawrence fluorspar mine will bring considerable activity to this region both in the form of new jobs and spin-offs for local businesses looking to service the mine's operations. This collective activity will have a net economic impact on this area of close to $380 million."
The reopened St. Lawrence mine will create up to 370 full-time construction jobs over the next two years. More than 160 permanent jobs will be created.
More information is available at www.CanadaFluorspar.com.
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