July 20, 2017
Sale of Scully Mine is a Milestone in Reopening Mine in Wabush
Today, the Honourable Siobhan Coady, Minister of Natural Resources, welcomed the announcement that Tacora Resources has purchased Scully Mine as it works to reopen the mine, and highlighted the work of the Government of Newfoundland and Labrador in ensuring financial obligations were maintained for remaining environmental liabilities at Wabush Mines.
Tacora plans to complete a feasibility study in 2017 after which it will seek to raise additional capital needed to re-start Wabush Mines.
“We welcome this week’s news of the sale of Scully Mine to Tacora Resources. It is another important milestone to get Wabush Mines reopened. We have been working diligently over many months and have been firm that any company operating Scully Mine would have to take on the financial obligation and responsibility for the rehabilitation and closure costs of the Wabush Mines; and that taxpayers would not be responsible for any remaining environmental liabilities at Wabush Mines. I can confirm that Tacora has provided a rehabilitation and closure plan that has been accepted in accordance with the Mining Act and that financial assurance has been provided by Tacora with respect to the accepted plan. I’d like to thank the team within government, as well as Graham Letto, MHA for Labrador West, who was actively involved throughout this process. We will continue the work required to encourage the reopening of Wabush Mines.”
Honourable Siobhan Coady
Minister of Natural Resources
“I have worked closely with the Department of Natural Resources, and the Department of Municipal Affairs and Environment in efforts to find a new owner for the Wabush Mines facility. I am very pleased that Tacora has made significant progress in reaching an agreement to purchase the assets of the Scully Mine and I will continue to provide my support to their efforts to re-open the mine and provide employment to the people of Wabush and Labrador West.”
MHA for Labrador West
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Tacora Resources has purchased Scully Mine
Constituency Assistant to
MHA for Labrador West
2017 07 20 3:35 p.m.