The Mayor of St. Lawrence admits the town has been down the road before, but he says there are a few things going in favour of operations at the fluorspar mine this time around.

Singapore-registered Fluorspar Holdings Pte Ltd, a subsidiary of AMED Funds, has received court approval for the purchase of the idled mine once owned by Canada Fluorspar.

There were high hopes for Canada Fluorspar when it announced it was restarting operations at the mine back in 2017. The provincial government provided the company with a $17 million repayable loan at the time to help get things going, but by February of 2022 the company was laying off workers and filing for interim receivership.

Mayor Kevin Pittman says there were at least three major factors that kept the local mine from being the world leader in fluorspar.

Number one says Pittman was competition with cheaper fluorspar purchased from other countries, but environmental regulations limiting impurities like arsenic are now working in favour of the higher grade ore available locally. Other problems encountered over the years include issues with transportation and what he calls management issues.

Director of Fluorspar Holdings Pte Ltd, Rudolph de Bruin, says St. Lawrence has some of the highest-grade ore in the world.

He calls the geology “world class,” saying the deposit lends itself to acid-grade fluorspar which commands a higher price on the market.

De Bruin says the company has already seen success with an operation in South Africa with similar geology to St. Lawrence, which is now in production with “good profits.”