First employees getting hired, company will be in Lab West to prep for business by next summer
The company that purchased the Scully Mine in Wabush says it has a five-year deal with the world’s largest iron ore trader and hopes to have the operation back up and running by this time next year.
Tacora Resources is currently going through the Companies’ Creditors Agreement Act (CCAA) purchase process for the site, since the mine has been locked in creditor protection since being shuttered by Cliffs Natural Resources in 2014.
Matt Lehtinen, Tacora CEO and president, says his company has been looking at Wabush Mines since January 2016 and working hard these past eight months to buy and reopen the operation. “I really thought that we had found a diamond in the rough,” he said. “We saw a lot of potential.” Continue Reading →