Baffinland Iron Mines Corp. isn’t saying if it is going to shut down its Mary River mine, following the federal authorities’s rejection of its growth plans this week.
Over the course of a four-year public listening to, the corporate mentioned it could need to quickly shut the mine if the growth wasn’t accepted — a declare some opponents of the proposal known as a risk.
On Friday, Baffinland spokesperson Peter Akman didn’t say whether or not the corporate has any speedy plans that may have an effect on work on the mine.
He mentioned that call could be based mostly on a number of points, like if the value of iron will increase or decreases and whether or not Baffinland can be allowed to take care of its transport restrict of six million tonnes per 12 months.
Following the rejection of its growth plan Wednesday by federal Northern Affairs Minister Daniel Vandal, Baffinland has requested a gathering with Vandal and continues to carry conferences with the Qikiqtani Inuit Affiliation, Akman mentioned.
Vandal rejected the corporate’s growth plans, often called Part 2, agreeing with the Nunavut Affect Assessment Board’s conclusion that the growth has the potential to trigger environmental harm, with no proof that it may very well be mitigated.
Baffinland’s plans included doubling its transport output to 12 million tonnes per 12 months from six million, and constructing a 110-kilometre railroad and a further dock on the Milne Inlet port for transport.
In the intervening time, Baffinland has moved away from its growth plans to concentrate on maintaining the Mary River mine open, Akman mentioned.
The corporate’s allow to ship six million tonnes of iron will expire this 12 months. If one other allow isn’t issued, Baffinland will solely be allowed to ship 4.2 million tonnes in 2023.
Kyle Allen, Vandal’s spokesperson, confirmed the minister’s workplace acquired Baffinland’s request and is dedicated to assembly with the corporate. He didn’t say if a time has been set for a gathering.
Baffinland is Nunavut’s largest personal sector employer and the biggest contributor to its economic system.
The corporate estimates the growth would have generated about $4.7 billion in tax income for Nunavut, royalty and tax income for the federal authorities and royalties to Inuit associations, Nunavut Tunngavik Inc., and the Qikiqtani Inuit Affiliation over the lifetime of the mine’s growth.