If you follow the local economy, you know the historical importance of the Bathurst Mining Camp. Now, Canadian Copper Inc has officially purchased the shuttered Caribou Mine in northern New Brunswick. This deal aims to revive the mining sector in the Bathurst region nearly four years after operations stopped. According to a report by CBC News, the company finalized the purchase on Tuesday.

A New Vision for Murray Brook

The Caribou Mine site sits about 55 kilometres west of Bathurst. It includes a processing mill, a tailings pond, mineral rights and permits. Canadian Copper plans to use the existing mill to process copper, zinc, silver and lead. Workers will extract these minerals from a nearby open pit mine called Murray Brook.

This sale removes a significant financial burden from provincial taxpayers. The New Brunswick government took control of the site in 2023 after the previous owner went into receivership. The province spent about $14 million to maintain the site. The $6.2 million sale agreement sees the province receive $4 million. Canadian Copper assumes all environmental liabilities associated with the mining assets.

Local Leaders Celebrate the Sale

Officials gathered in Bathurst to celebrate the announcement. Natural Resources Minister John Herron called the sale a momentous occasion for the entire province. He confirmed the province provided no subsidies to Canadian Copper.

Canadian Copper CEO Simon Quick outlined the company vision. “When we started here we had one really overarching goal, and that was to see the Bathurst Mining Camp reemerge and be the national powerhouse it was once,” Quick said. The company estimates it will cost $70 million to restart the mill and begin work at the Murray Brook site.

The project delivers a boost to the local economy. Construction will employ 40 to 60 people. Once operational, the mine will support about 120 jobs over a 14 year lifespan. Bathurst Mayor Kim Chamberlain noted that many qualified local workers currently travel out of province for work and will welcome the chance to stay home.

Pabineau First Nation Chief Terry Richardson also expressed support. He highlighted opportunities for contracting, employment and potential equity for First Nations.

Next Steps for Canadian Copper

The Murray Brook plan requires environmental approval. Canadian Copper filed an environmental impact assessment earlier this month. The company plans to begin work at Murray Brook in 2027 and start processing minerals in 2028.

Frequently Asked Questions

Who bought the Caribou Mine?

Canadian Copper Inc purchased the mine.

What will the company mine at the site?

Canadian Copper plans to extract and process copper, zinc, silver and lead from the nearby Murray Brook open pit mine.

How many jobs will the new mining project create?

The project will create 40 to 60 construction jobs and about 120 operational jobs over 14 years.

When will mining operations begin?

The company plans to begin work at the Murray Brook site in 2027 and start processing minerals in 2028.