Avalon Advanced Materials acquires closed Kapuskasing mine, Matheson processing plant as part of $16-million property package deal
A lithium exploration company wants to dig into a mine waste pile to recover valuable critical minerals that are used in fertilizer applications.
Avalon Advanced Materials is picking up four industrial minerals properties in Northern Ontario, including a former phosphate mine near Kapuskasing and a processing plant in Matheson.
Toronto-based Avalon announced Feb. 17 that it has signed a binding letter of intent to acquire a privately owned numbered company, 2333382 Ontario Inc.
The assets include the former Cargill Carbonatite mine complex, 40 kilometres southwest of Kapuskasing, and the former Northfil Resources mineral processing plant in Matheson, 70 kilometres east of Timmins.
The Cargill open-pit mine opened around 2000 and was shuttered in 2013. At least 12 million tonnes of tailings were left behind.