‘We’re attracting interest’: N.B. touts new agreement for Lake George antimony mine

New Brunswick has signed a new agreement for an antimony mine.

John Herron, New Brunswick’s Natural Resources minister, says a new exploration agreement with a large mining company is a clear sign the sector is revitalizing in the province.

Avenir Minerals, a subsidy of Canadian firm Agnico Eagle Mines, has been selected by the province to work on a deal that would allow the company to explore the former Lake George antimony mine site to see if the mine can be revitalized. The deal is expected to be worked out over the next few months.

Before closing in 1996 after more than 100 years of intermittent operations, the Lake George site was one of the largest antimony mines in North America. It contains an estimated 800,000 tonnes of antimony-bearing ore, according to historical technical reports.

“We’re not just attracting interesting from the mining sector,” says Herron. “We’re attracting interest from the super major [mining companies] that New Brunswick really is the go-to jurisdiction in the country in developing critical minerals.”

Antimony is classified as a critical mineral by Canada, the United States and European Union. It is used in the production of flame retardants, batteries and other types of advanced technology.

Herron says in the global markets, China currently has a “stranglehold” on the important mineral with more than 80 per cent of the market share. He says the G7 nations want a diverse supply of these types of minerals and is looking forward to the role New Brunswick can play.

“This will require a significant amount of capital investment,” Herron says. “Avenir and Agnico Eagle have the finical capacity to develop this mine if they see that the mine has the promise that it does have.”

Herron says the price and value of antimony has skyrocketed in recent years and looks forward to further discussions with the company on redeveloping the site around 30 kilometres southwest of Fredericton.

He says while a more concrete timeline on when the mine could re-open would be better answered by Avenir, Herron says from a provincial perspective it would likely be at least three to five years before any production would start on site. He admits even that timeline would be “extraordinarily quick.”

The project is a part of the province’s ongoing commitment to revitalize the mining sector. In 2026 the New Brunswick government has already unveiled a new comprehensive minerals strategy and a new Mineral Resources Act.

Herron says before any major work begins on re-opening the mine, there will be lengthy opportunities to hear from residents who live around the Lake George mining site. He says Avenir has a “extra ordinary reputation” with respect to engaging with communities.

“That’s the type of company that any jurisdiction in the country, or I may say, even in the world, would want to have investing in their jurisdiction,” says Herron.

The minister says any disruption in the months ahead would be minimal as part of the company’s geological analysis phase.

CTV News Atlantic reached out to the Harvey Rural Community municipality, in which the mining site is located, for comment on the matter. They said they knew of the plans long before the government announcement.

“This announcement marks another important step in the province’s process for the Lake George site,” said Mayor Richard Corey in a news release. “We appreciate the province’s continued communication with the Municipality and remain committed to ensuring residents receive timely, accurate information as this work progresses.”

The municipality says they will continue to speak with stakeholders and share updates with residents as they are needed and become available.

CTV News Atlantic reached out to Avenir Minerals for comment on the agreement and is awaiting a response.

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