Canadian Copper Secures Investment to Revive Caribou Mine
Canadian Copper aims to reopen Caribou Mine in New Brunswick with a projected investment of CAD 96 million by 2026. The mine, previously owned by Trevali, has been inactive since January 2023, and successful financing could create up to 115 jobs.
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Canadian Copper has secured commitments for an investment of CAD 96 million from OR Royalties and Ocean Partners to facilitate the reopening of the Caribou Mine near Bathurst, New Brunswick. The company aims to finalize an agreement by summer 2026, with construction projected to start in 2027 and production expected by 2028 or 2029.
The investment exceeds the estimated CAD 65 million required to reactivate the site, which has been dormant since January 2023 following Trevali's insolvency. If successful, the project could generate 100 to 115 direct jobs. The sale is subject to court approval in British Columbia, where Trevali's insolvency proceedings are ongoing.
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