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Ottawa approves $5M loan to St. Lawrence fluorspar mine project


The federal government announced a $5 million repayable contribution toward Canada Fluorspar Inc. operated St. Lawrence-based project Wednesday.

A diagram showing the proposed Canada Fluorspar Inc. mine site in St. Lawrence. The company received a $5 million loan from the federal government Wednesday.

The money is being made available through the Atlantic Canada Opportunities Agency and is aimed at helping the company purchase and install clean technology equipment.

Last week, CFI received a $17 million loan from the provincial government.

“The 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,” Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA stated in a news release.

The project is expected to create up to 400 jobs during construction and 200 positions during the operational phase.  

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