Latest news with #Kameron Colliers ULC
CTV News
3 days ago
- Business
- CTV News
Cape Breton's Donkin coal mine up for sale by U.S.-based owner
Workers repair the road leading to the Donkin coal mine in Donkin, N.S., on Monday Dec. 13, 2004. THE CANADIAN PRESS/Andrew Vaughan HALIFAX — An idle Cape Breton underground coal mine that has been plagued by rockfalls is reportedly up for sale. Nova Scotia-based Morien Resources Corp. receives a royalty from the Donkin mine, and says the mine's owner has announced it intends to explore a sale of its 100 per cent ownership in the operation. Attempts to reach mine owner Kameron Colliers ULC were unsuccessful. Morien owns a production royalty on coal sales from the mine that is binding and will continue if there is a change in ownership. The Nova Scotia company says it's unclear whether a successful sale will result in the mine restarting operations. Nova Scotia's government suspended operations at the mine in 2023 after two roof rockfalls, and allowed them to resume in March 2024 following a review by a third-party consultant. The mine, which remains idle, first opened in 2017 and was described by the province as the world's only operating subsea coal mine. It resumed operations in September 2022 after it was shuttered in March 2020 amid slumping coal prices and roof collapses that led to repeated stop-work orders. --- This report by The Canadian Press was first published July 18, 2025.
Yahoo
3 days ago
- Business
- Yahoo
Cape Breton's Donkin coal mine up for sale by U.S.-based owner
HALIFAX — An idle Cape Breton underground coal mine that has been plagued by rockfalls is reportedly up for sale. Nova Scotia-based Morien Resources Corp. receives a royalty from the Donkin mine, and says the mine's owner has announced it intends to explore a sale of its 100 per cent ownership in the operation. Attempts to reach mine owner Kameron Colliers ULC were unsuccessful. Morien owns a production royalty on coal sales from the mine that is binding and will continue if there is a change in ownership. The Nova Scotia company says it's unclear whether a successful sale will result in the mine restarting operations. Nova Scotia's government suspended operations at the mine in 2023 after two roof rockfalls, and allowed them to resume in March 2024 following a review by a third-party consultant. The mine, which remains idle, first opened in 2017 and was described by the province as the world's only operating subsea coal mine. It resumed operations in September 2022 after it was shuttered in March 2020 amid slumping coal prices and roof collapses that led to repeated stop-work orders. This report by The Canadian Press was first published July 18, 2025. The Canadian Press
