Copper and gold producer expanding Ming Copper-Gold Mine on Baie Verte Peninsula
November 4, 2016– Baie Verte, NL – Atlantic Canada Opportunities Agency
Honourable Judy Foote, Minister of Public Services and Procurement and Member of Parliament for Bonavista – Burin – Trinity, today announced a $2 million repayable contribution for Rambler Metals and Mining Canada Limited to increase productivity at its Ming Copper-Gold Mine on the Baie Verte Peninsula. The announcement was made during the 2016 Mineral Resources Review conference in St. John’s on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).
This Government of Canada investment, provided through ACOA’s Business Development Program (BDP), will help the company update and expand a grinding circuit at its copper processing facility located at Nugget Pond. This expansion will enable the company to increase the capacity of its copper concentrator from 650 to 1250 metric tonnes per day to accommodate an increase in production at the mine.
The project will also extend the life of the mine from six years to more than 20 years, which will result in greater economic benefits for Baie Verte Peninsula residents through employment and spin-off activity for local businesses. The expansion will also help the company to improve operating efficiencies and lower its operating costs.
Rambler Metals and Mining Canada Limited is a mining and development company which began commercial production in 2012. The company’s Ming Copper-Gold Mine produces copper and gold concentrates which are exported to markets in Europe.
“The Government of Canada continues to work in partnership with communities and businesses to help grow the economy and create jobs in regions across the country. Through this project, Rambler Metals and Mining Canada Limited has identified a significant opportunity to improve its operation, increase productivity and efficiency, and benefit the Baie Verte Peninsula’s economy.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Our Government is committed to strengthening regional economies by supporting business enhancements and investing in companies such as Rambler Metals and Mining Canada Limited. Increasing production capacity at Rambler’s processing facility at Nugget Pond will have a significant positive impact on the people who work and live on the Baie Verte Peninsula.”
– Honourable Judy Foote, Minister of Public Services and Procurement and Member of Parliament for Bonavista – Burin – Trinity
“As the largest employer on the Baie Verte Peninsula we are very pleased to receive this level of support from the Government of Canada. Rambler was first listed for trading in 2005 with the mandate to bring the historic mining operation back into production. Having achieved this initial goal, with the declaration of commercial production in 2012, the Company has since continued to operate while developing the Phase II expansion strategy to increase both production and the life of mine. This repayable assistance, combined with the equity investment completed earlier this year, will allow for full optimization and expansion of all available infrastructure in support of an operation spanning two decades.”
– Norman Williams, President and CEO, Rambler Metals and Mining Canada Limited
Paul McGrath Director, Public AffairsACOA NL709-772-2984[email protected]
Peter Mercer Vice President, Corporate SecretaryRambler Metals and Mining 709-800-1929 extension 500[email protected]