Chance of new life as American buyer eyes Wabush Mines – by Glenn Payette (CBC News Newfoundland and Labrador – April 13, 2016)

http://www.cbc.ca/news/canada/newfoundland-labrador/

300 to 400 jobs if mine gets back in production

A United States company is looking to buy Wabush Mines with a view to having it re-opened within a year. Virginia-based ERP Compliant Fuels has submitted a bid to Cliffs Natural Resources which owns the mine but closed it in 2014.

“We are very interested and trying to close the transaction this spring,” said ERP co-founder Tom Clarke. Clarke said his company hopes to take full advantage of what the mine has to offer.

“The mine can produce up to six million metric tonnes, and employment would probably be somewhere between 300 and 400 people once we get back to the six million tonne production level.”

Clarke said the purchasing agreement has to be approved by the courts, but he wants to get things going as quickly as possible.

“We’re hopeful we might be able to close the transaction in the month of May. We’re very aggressively trying to pull everything together,” he said.

“We’ve been developing mine plans. We’ve done a lot of partnering, and had discussions with all the major parties that we would have to work with to restart the mine.”

For the rest of this article, click here: http://www.cbc.ca/news/canada/newfoundland-labrador/wabush-mines-sale-erp-compliant-fuels-labrador-stelco-1.3533498

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