Canada Fluorspar Inc. is considering a new location for the development of a shipping port on the western side of their mining property in St. Lawrence, on the Burin Peninsula.
The original plan was to develop the marine facility at Blue Beach.
At a public information session Thursday night, April 25, at the local recreation centre, company CEO Bill Dobbs said there are many benefits to developing the western property. One would be the possibility of extending the life of the mining project.
“If we can get approval to ship of the western side of our property, the west facility will allow us to sell aggregate, which would also allow us to go deeper in our fluorspar mine in an open pit fashion which will extend the life of our fluorspar reserve,” he explained.
According to Dobbs, the current life expectancy of resource is eight years. The open pit method could add approximately 10 years to the life of the mine.
He added it would make it more economically viable for the company to supply the construction aggregate market, and it could help them tap into markets in China.
Currently the rock that is removed in the fluorspar mining process is trucked to a waste rock site located on CFI’s property.
Dobbs Dobbs explained that if processed it can be used in everything from concrete to the production of asphalt.
“The cost savings could be as much as $20 per ton,” said Dobbs. “The value of the aggregate on the market is $25-$30 per ton, so what it would do is make selling aggregate economic versus trucking it the 7 to 8km to Blue Beach, it would only be 500m to the western shipping facility.”
Dobbs said there is a potential for the company to export two million tonnes of aggregate per year.
He added the company hopes to have the marine shipping terminal project registered with the provincial government for environmental assessment by the end of May.
“We hope to hear back later this year and hope to start construction sometime in 2020,” said Dobbs. “So hopefully in 2020 we would have broken ground and be near completion of a shipping facility, should we get the approvals.”