The former phosphate mine southwest of Kapuskasing could be back into production as early as next year. That’s the word from Kap Minerals president and COO Jeff Ivan following the announcement of the agreement signed with Hanwa of Japan.
The company has agreed to purchase and distribute phosphate and rare earth elements. Ivan notes that the mine will produce up to 100,000 tons a year to start.
“And once we are comfortable with that pilot facility, we will fast track that much larger 200,000 ton facility in Kapuskasing and that will be part of the Kap critical minerals production centre,” he said.
Ivan says at the outset about 30-40 employees will be needed with operations and then increase to 200 when the production facility opens.
Ivan adds Agrium closed the mine after 20 years because phosphate was only worth about 30 dollars a ton and there wasn’t a lot of discussion about rare earth elements.
He explained that’s all changed, and phosphate is worth about $400 and he expects the project to last 50 to 100 years.
