NB finalizing plans to maintain essential operations at Caribou Mine
It appears the New Brunswick government may have found a contractor to keep water treatment going at the shuttered Caribou Mine near Bathurst.
The mine was shut down and placed into care and maintenance mode last summer following the release of Trevali Mining Corporation's dismal second-quarter financial and operational report.
The Department of Natural Resources and Energy Development said Monday that a receivership order is slated to take effect in the early morning hours Wednesday(4:00 a.m. Atlantic time) at which time Trevali NB will cease operating the site.
The department said Monday it was finalizing plans to maintain essential operations with the help of a private contractor in an effort to ensure a seamless transition.
But not finding a buyer for the mine could result in a hefty price tag for New Brunswick tax-payers.
In a recent committee meeting, deputy Natural Resources and Energy Development minister Tom MacFarlane told MLA's it could cost the province about a million dollars per year to keep water treatment going at the mine.
CBC reports the province is hopeful a buyer can be found and operations resume.
If that doesn't happen, MacFarlane says the province would implement a plan to close and clean up the property.
(with files from CBC)