QUEBEC GOVERNMENT SET TO FINANCE EXPANSION OF CONTROVERSIAL ASBESTOS MINE
July 1st, 2012
BY MJ DESCHAMPS
OPERATIONS at Canada's largest open-pit asbestos mine will be re-starting shortly, with exports of chrysotile set to begin within a year, following the signing of a financing agreement between the Québec government and a consortium of shareholders.
Mine Jeffrey's Canadian dollar CAD83 million (USD 81.45 million) financing agreement to restart operations - which includes a CAD25 million investment from shareholders of the mine, and a CAD58 million loan bearing 10% interest - will help the Asbestos, Québec, mine complete the construction of its ...
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