The Beaver Brook Antimony Mine is “indefinitely suspending operations” at its site near Glenwood.

The company outlines several compounding factors that have led to the decision.

A restart of operations in 2021 saw a peak of over 110 people employed at the site.

Last November however, the company says they had to reduce their workforce and adjust operations to assess the possibility of running throughout the winter.

Now, with an increase in operating costs due to inflation, winter operations in harsh weather conditions, and lower than budgeted mining production, they are not able to continue operations.

In particular, work at the mine requires high quantities of fuels such as diesel and propane, the prices of which are much higher than budgeted. The company has also been struggling with global supply chain issues and obtaining what is required for timely operations at the site.

They hope to conduct more in-depth mining exploration throughout the winter and spring to determine the full extent of their resources and assess whether they can resume operations later this year or explore a permanent closure.

As for now, the mine is entering a period of “care and maintenance,” during which a team will remain on-site to provide security and ensure regulatory compliance.