Morien Resources Corp. has provided an update on the Donkin Coal Mine in Nova Scotia, Canada, owned and operated by Kameron Collieries, upon which Morien has a 2% to 4% royalty interest.
The Nova Scotia Department of Labour, Skills and Immigration (“LSI”), a provincial regulator for the Donkin Mine, concluded its review of an independent engineer’s report on tunneling and ground control plans at Donkin.
As stated by LSI – “After a thorough internal review and consulting with third-party experts to ensure recommendations have been satisfied, the Department has lifted the existing Compliance Order. The company can now reopen for year-round operation if it chooses to do so.”
Today’s news follows Kameron’s decision on November 10, 2023, to lay off its remaining hourly workforce at the Mine and to place the operation into an idled state with no timeline to resume operations. This decision was made in consideration of a prolonged Stop Work Order (“SWO”), and associated Compliance Order, in effect since July 15, 2023, put in place by LSI in response to a roof fall incident on July 15, 2023, where no one was injured, nor any equipment damaged.
Morien is of the opinion that any potential return to production at Donkin is not conditioned solely upon the lifting of the Compliance Order, but will be contingent, in part, on improving certain regulatory-related processes that ensure long-term, stable production.
Morien will continue to work diligently to advocate for a potential return to production and will provide further updates to its shareholders and investors as to the status of operations at the Mine as they become available.
About Morien
Morien is a Nova Scotia based, mining development company created in 2012 to be a vehicle of direct prosperity for Nova Scotians, its largest shareholder group. Led by Nova Scotians, Morien’s primary assets are a royalty on the sale of coal from the Donkin Mine in Cape Breton, Nova Scotia, and a royalty on the sale of crushed stone from the permitted Black Point Quarry Project, in Guysborough County, Nova Scotia. Morien’s management team exercises ruthless discipline in managing both the assets and liabilities of the Company. The Company’s management and its Board of Directors consider shareholder returns to be paramount over corporate size, number or scale of assets and industry recognition. The Company has 51,292,000 issued and outstanding common shares and a fully diluted position of 53,992,000. Further information is available at www.MorienRes.com.
Source: Morien Resources
