Release
Department of Natural Resources
July 28, 2026
BATHURST (GNB) – The Caribou Mine near Bathurst has a new owner.
Canadian Copper Inc., a mineral development company, has acquired the mine through the receivership proceedings of Trevali Mining (New Brunswick) Ltd.
“This acquisition is another sign of the resurgence of New Brunswick's minerals sector,” said Natural Resources Minister John Herron. “The project reflects our comprehensive minerals strategy by delivering regional and provincial economic benefits.”
The project is expected to produce significant economic benefits, creating about 230 jobs during the construction phase – which is anticipated to start in 2027 – and about 115 permanent positions during operations.
The company plans to use the mill at the mine site to process material taken from the nearby Murray Brook site, producing copper and zinc, which have been identified as critical minerals in Canada.
“We appreciate the government of New Brunswick's partnership throughout this process and the confidence they have shown in Canadian Copper,” said Simon Quick, the company’s CEO. “Acquiring the Caribou complex is an important milestone for our company and for the Bathurst Mining Camp. Our immediate priority is to ensure a safe and seamless transition of care and maintenance while advancing the work required to return this mining asset to production, creating long-term economic opportunities for New Brunswick.”
Trevali Mining went into receivership in January 2023, leading to the closure of the mine and the loss of about 200 jobs. The government took responsibility for the mine’s care and maintenance in the meantime while collaborating with the receiver to facilitate its sale. The acquisition means Canadian Copper will take over care and maintenance of the site, along with the associated costs.
28-07-26
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Media Contact(s)
Nick Brown, communications, Department of Natural Resources, [email protected].