Mining company Teck Resources expects the cost of cleanup and reclamation work at the Duck Pond copper and zinc mine to come in at around $10 million.
Those costs will be covered, the company stated in a news release this morning, but exactly what work will be paid for by the fund has yet to be settled.
Teck is working with the province’s Department of Natural Resources to settle on a mine closure plan. The plan will include specific details about what kind of cleanup work will be undertaken at the site.
The company has promised more information once the closure plan is approved by the province. There is no set timeline for the completion of that work.
As confirmed in January, Teck is closing the mine in early 2015. The closure will directly put 280 people out of work.
The mine, located near Millertown and about 100 kilometres southwest of Grand Falls-Windsor, started to produce for sale in April 2007. An original feasibility study indicated there would be a transition from the underground mining to a surface operation in 2013, with commercial resources expected to be exhausted in 2015.
The property is following the timeline as predicted.
“On behalf of Teck, I would like to thank our employees and the community for their support over the years,” said Larry Bartlett, the mine’s general manager of operations, in the company’s latest statement.
“While this closure was part of the mine’s original plan, this can still be a challenging time for employees and we will be working to ensure they are well supported through this transition.”
Layoffs at the mine are expected to roll out over the course of 2014.