The mayor of Baie Verte welcomes word that the courts have approved the sale of Rambler mines to an Australian-based company.
AuTECO Minerals Limited will pay about $65 million for the business, calling it “a rare and outstanding acquisition.”
That’s given communities on the Baie Verte Peninsula reason for hope. Baie Verte Mayor Rex Bowers says the closure of the Rambler mine had a devastating impact on his town.
He says some young families moved away, and he’d like to see them drawn back.
He hopes approval of the sale will mean renewed activity at what was once a major economic driver for the region.
