Matt Lehtinen, president of Tacora Resources, spoke at the Mineral Resources Review conference in St. John’s on November 2 and had a lot of positive things to say. Tacora, which recently purchased the Wabush Scully mine, is currently working on its feasibility study, which Lehtinen said is going well.
He gave a recap of the history of the mine and a look into what they see as the future of the mine.
“With the methods we’re using we see 20 to 30 years reserves at the mine,” he said. “We’ll make sure it’s sustainable.”
Lehtinen said the mine was being ignored under its previous owners after the purchase of the Bloom Lake mine. He said at that time the manganese in the ore was considered a deterrent to selling the ore but they’ve managed to find a buyer who is receptive.
“We have a 100 per cent off-take agreement with Cargill,” he said. “They found that the ores mined elsewhere have other impurities that impact the quality of the ore. Cargill doesn’t care about manganese.”
The next step in the process following the feasibility study is to complete the fundraising for the restart of the mines, which will hopefully begin in the new year. They plan to begin hiring employees in the summer of 2018 and the first shipment is slated for October 2018.