New Brunswick government hoping to restart critical mineral mine south of Fredericton
BNN Bloomberg
The New Brunswick government is looking for a company to reopen a mine that used to be one of North America’s largest producers of the critical mineral antimony.
The government says the former Lake George mine, about 30 kilometres southwest of Fredericton, operated intermittently from 1876 to 1996.
The shiny grey metal is mainly used as a flame retardant, but it is also used in solar panels, lead-acid batteries and more recently in infrared missiles, nuclear weapons and night vision goggles.
Citing a historical technical report, the government says the mine is believed to contain about 800,000 tonnes of antimony-bearing ore.
At current prices, the potential value is more than $900 million.
Earlier today, Natural Resources Minister John Herron announced a competitive bid for expressions of interest, but said no mineral rights will be awarded until a formal exploration agreement is reached.
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