Canada Fluorspar (NL) Inc. (CFI), a company 100% owned by Golden Gate Capital, is planning to develop the AGS Project in St. Lawrence, Newfoundland and Labrador, Canada.
CFI will mine high quality fluorspar ore from the AGS Vein, produce acid-grade fluorspar concentrate, and export the product to domestic and international markets.
The current resource estimate of the AGS vein indicates the mine will operate for approximately 10 years. CFI has also identified other fluorspar ore bodies in the vicinity of the AGS, which could be mined after the AGS ore has been exhausted.
The fluorspar deposits of St. Lawrence are known for accessibility, high grade and absence of impurities. The Project is located close to major North Atlantic and European shipping routes enhancing its appeal.
Golden Gate Capital
Golden Gate Capital (GGC) is a San Francisco based private equity firm with over $15 billion in committed capital. GGC’s investments focus on six strategic industry verticals: software, semiconductors and IT hardware, retail and restaurants, industrials, IT and business services, and financial services. GGC’s investment in the industrials sector focuses on mining, minerals and basic materials practice.
GGC grows its businesses through capital investments and operational improvements. Currently, Golden Gate holds investments in more than 35 companies across six industry verticals.
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KEY POINTS ABOUT THE AGS PROJECT
The Project includes construction, operation, rehabilitation, and closure of several components:
- Surface and underground mine development of the AGS Vein
- Mill facility, with a production capacity of up to 200,000 tonnes per year of acidspar concentrate and 200,000 tonnes per year of high-quality construction aggregate
- Tailings Management Facility to store 2.8 million tonnes of tailings over the life of the Project
- Infrastructure to support the mine and mill, including access roads, power lines, conveyors, administration building, warehouse and maintenance buildings, employee change facilities, concentrate storage building, security building, laboratory and electrical building.
Mine construction and development will take place over a two-year period, and it will result in a peak employment of approximately 350-400 workers. Human Resources planning for the construction phase is already in progress.
The main activities to be carried out during the two-year construction phase of the Project are site preparation, open pit development, construction of infrastructure, installation of utilities, restoration of temporary work areas, and commissioning.
HEALTH, SAFETY, & ENVIRONMENT
CFI is committed to the highest standards of workplace safety, health and environmental protection. Our approach to safety, health and preservation of the environment is designed to ensure that our workplaces are safe and healthy. Minimizing any adverse effects of our operations on the environment, including the community at large, is the underlying principle of our approach to environmental stewardship.