The Caribou Mine near Bathurst has been sold after more than a year of uncertainty.
Canadian Copper Incorporated has acquired the site through the receivership process for Trevali Mining Ltd.
Trevali entered receivership in January 2023, leading to the closure of the mine and the loss of about 200 jobs.
The provincial government had been responsible for care and maintenance at the site while working with the receiver to support its sale.
Natural Resources Minister John Herron said the acquisition shows renewed momentum in the province’s minerals sector.
“This acquisition is another sign of the resurgence of New Brunswick’s minerals sector,” Herron said.
He said the project reflects the province’s minerals strategy by supporting both regional and provincial economic activity.
The province says the project is expected to create about 230 jobs during the construction phase, which is anticipated to begin in 2027.
It also expects about 115 permanent positions once operations resume. The company plans to use the mill at the Caribou site to process material from the nearby Murray Brook deposit, producing copper and zinc.
The federal government has identified both minerals as critical to Canada’s supply chain.
Canadian Copper CEO Simon Quick said the company values the province’s support during the acquisition process.
“We appreciate the government of New Brunswick’s partnership throughout this process and the confidence they have shown in Canadian Copper,” Quick said.
He said taking over the Caribou complex marks an important milestone for the company and for the Bathurst Mining Camp.
Quick said the company’s immediate focus is ensuring a safe transition of care and maintenance while advancing the work needed to return the mine to production.
With the acquisition complete, Canadian Copper will assume responsibility for the site’s care and maintenance, along with the associated costs.
