$5 Million Investment in Canada Fluorspar (NL) Inc. to Help Revitalization of St. Lawrence Mine
News Release
Government of Canada Investment to Support Green and Innovative Technologies
March 15, 2017 – St. Lawrence, NL – Atlantic Canada Opportunities Agency
The ongoing work to re-activate the fluorspar mine in the Town of St. Lawrence, on the province’s Burin Peninsula, received a major boost today through a repayable contribution of $5 million for Canada Fluorspar (NL) Inc. (CFI-NL) from the Government of Canada.
The Honourable Judy Foote, Minister of Public Services and Procurement and Member of Parliament for Bonavista-Burin-Trinity, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced the investment today.
The funding, which is being provided through ACOA’s Business Development Program, will help the company with the acquisition and installation of innovative equipment for processing of the fluorspar at the mine and support CFI-NL’s commitment to clean technology. This investment will help create up to 350-400 jobs during the construction phase and up to 200 jobs during the operational phases of the project.
Quotes
“This investment in Canada Fluorspar (NL) Inc. is an investment in innovation, in clean technology and in people. Government of Canada funding will help the company install leading-edge, energy efficient equipment and will help create a significant number of jobs for middle-class Canadians in a rural part of the country. Canada was built largely on our natural resources. Today, it is imperative we look for newer, greener, cleaner ways to extract, process and use these resources to help our country on its continued path to green prosperity and growth.”
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Our Government believes that investments in business help to spur economic growth, create good middle-class jobs and foster long term prosperity. We are pleased to invest in this project with Canada Fluorspar (NL) Inc. which demonstrates our commitment to clean economic growth by helping the company develop a state of the art processing facility that will bring significant economic benefits to the region.”
The Honourable Judy Foote, Minister of Public Services and Procurement and Member of Parliament for Bonavista-Burin-Trinity
“Canada Fluorspar is proud to have the support of the Government of Canada in helping to develop the St. Lawrence Fluorspar Project. The repayable contribution announced by ACOA represents a large step forward for our preparations for production which will see at least a decade of employment and additional economic benefits for the people in our region.”
Lindsay Gorrill, CEO for Canada Fluorspar Inc.
Contacts
Paul McGrath
Director, Communications
ACOA NL
709-772-2984
paul.mcgrath@canada.ca
Jessica Turner
Press Secretary
Office of the Honourable Judy Foote, Minister of Public Services and Procurement
819-997-5421
jessica.turner2@canada.ca
Justin Haley
Community Relations Coordinator
Canada Fluorspar (NL) Inc.
709-277-3954
info@canadafluorpsar.com
Page details
- Date modified: