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Bullboard - Stock Discussion Forum Atlas Salt Inc V.SALT

Alternate Symbol(s):  REMRF

Atlas Salt Inc. is a Canada-based mineral exploration company. The Company is engaged in the evaluation, exploration, development and production of industrial mineral properties in Newfoundland and Labrador. The Company’s principal asset is the Great Atlantic salt deposit project (Great Atlantic Salt Project), located in the St. George Basin of western Newfoundland. Its Gypsum Project is three... see more

TSXV:SALT - Post Discussion

Atlas Salt Inc > Cargill salt mining problems continue to mount in America
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Post by kilofinal7 on Jul 17, 2022 4:02pm

Cargill salt mining problems continue to mount in America

Cargill has closed their Avery salt mine in Louisiana due to the deaths of two employees caused by a roof collapse.

Now it seams there are red flags being raised about Cargill's second rock salt mine in New York State and the risk of a catastrophic mine flood - 

https://waterfrontonline.blog/2021/07/19/as-risks-of-a-catastrophic-mine-flood-under-cayuga-lake-mount-cuomos-dec-guards-cargills-secrets/ 
 

LANSING, July 19, 2021 — As Cargill Inc. mines salt under sections of Cayuga Lake where thinning bedrock heightens the risk of a roof collapse or flood, the Cuomo Administration has doubled down on its longstanding practice of withholding key mine safety documents.

This map of Cargill’s salt mine 2,300 feet below the surface of Cayuga Lake shows anomalies A-E, plus both versions of the Frontenac Point Anomaly — the blue oval and the yellow line indicating a fault.

Last week the state Department of Environmental Conservation refused to provide a copy of a letter it received from Cargill in which the company committed to avoid mining around an area of particular rock weakness known as the Frontenac Point Anomaly, or FPA.

The letter was the basis for the DEC’s decision to amend to Cargill’s permit in February to better assure the structural integrity of the vast mine, which covers about 3,000 leased acres of state-owned property 2,300 feet beneath the surface of the lake.  

“By letter, Cargill has agreed to not mine under the FPA and to maintain a minimum 1,000-foot setback from the FPA,” the agency stated in a public notice of its intent to impose the new restriction.” The new (permit) condition memorializes the letter.” 

But the revised permit provides no definition of the FPA. Last week, the DEC refused WaterFront’s requests to specify the boundaries it recognizes for the anomaly. It also declined to release the Cargill letter.

Tens of millions of dollars in potential mining revenues are riding on where anomaly boundary lines are drawn, according to a lawsuit filed in Tompkins County Supreme Court last month against the DEC and Cargill.  

Maps by Cargill mining consultants are not consistent in their depiction of the FPA. 

For example, one 2018 map shows the FPA as an oval shape just outside the company’s mining activities. But a 2016 Cargill map shows the FPA as a line — possibly a fault — about five times longer than the oval. (See map, above).

As depicted, the line extends deep into areas Cargill has already mined. And a 1,000-foot setback from that line would impinge on areas the company plans to mine soon. 

By omitting any definition of the FPA in its revised permit, the DEC may be allowing Cargill to choose its “preferred” version, according to the lawsuit.

The plaintiffs seek to block Cargill from further mining under both versions of the FPA — with setbacks — as well as under “the continuous trough of thinning bedrock” that extends across five other anomalies, pending a thorough review in compliance with the State Environmental Quality Review Act (SEQRA).

The DEC, as a matter of policy, declined to comment on the lawsuit. 

Kevin G. Roe

Minnesota-based Cargill is the nation’s second largest private company with annual revenues of more than $110 billion in 2020.

Kevin G. Roe, Cargill’s attorney in the recent lawsuit, did not respond to an email request for comment on the suit and for a copy of the Cargill letter “memorialized” in the DEC’s permit amendment. Cargill’s formal response to the lawsuit is due July 26, and an oral argument in the case is set for Aug. 9. 

John K. Warren, a geologist hired by plaintiffs as an expert witness, noted that Cargill consultants have repeatedly reported faults near the FPA. 

John K. Warren

Warren, the author of a 2017 study on salt mine leaks, said those faults under Cayuga Lake contribute to subsidence, where “the bedrock above a large underground void such as a salt mine will gradually sag down into the void.”

Warren said the “trough of anomalies” under Cayuga raises the risk that sagging bedrock will create apertures for water seepage. 

“As these pre-existing fractures and openings change, the pathways for groundwater and brine change, and the mechanical strength of the bedrock above the mine also changes,” Warren wrote in a court-filed affirmation in June.

The lawsuit was filed by the Ithaca-based group CLEAN (Cayuga Lake Environmental Action Now) and several individuals who claim they have a lot to lose if the bedrock cracks and the mine floods. Any hydrologic connection between the salt mine and the lake could raise the salt concentration in the lake dramatically.

Louise Buck

“I am concerned that my property values will be severely affected when our lake becomes salinized by virtue of a ‘mistake’ that Cargill makes while mining on or into fault lines or other anomalies,” said Louise Buck, a plaintiff who owns property on the lake’s eastern shore. “This will affect my legacy to my sons and their families, and we will be the poorer for it.”

Buck, who holds a doctorate from Cornell in natural resources management, said she is alarmed by “the inexplicable level of risk that the DEC appears to be tolerating in the face of this industry’s activities.”

For the past decade, Gov. Andrew Cuomo’s DEC has routinely deferred to Cargill’s efforts to resist public scrutiny. 

For example, the agency has never required the company to prepare a full environmental impact statement (EIS) that explores the potential for a mine flood. American Rock Salt, Cargill’s chief competitor for state contracts for rock salt to de-ice winter roadways, has twice been ordered to prepare an EIS.

In 2015, the DEC allowed Cargill to separate two related mining projects to avoid an EIS on either one — a 150-acre tunnel under dry land and a mine shaft that needed the tunnel to connect to the salt mine.

In its Environmental Notice Bulletin, the agency misrepresented the tunnel project to the public when it stated: “All activities … will take place underground, and there will be no additional surface development associated with this proposal.” 

No other state applies rock salt as freely as New York. Cargill and American Rock Salt are the primary suppliers.

Cargill had purchased the site at the end of the tunnel three years earlier. And as soon as the statute of limitations for legal challenges on the tunnel project expired, Cargill promptly applied for a permit for the mine shaft. 

While SEQRA specifically prohibits segmentation of projects that are inherently related, a Tompkins County Supreme Court judge ruled that the DEC had properly separated the two projects. The suit, which had sought a court order compelling a full EIS, was dismissed.

Earlier this year, the DEC voluntarily relinquished management control over Cargill’s consultant on the Cayuga mine, John T. Boyd Co.

“Cargill has paid for DEC’s consultant since about 2002,” the recent lawsuit states, “but this consultant has always — until February of this year — reported directly to DEC.”

Now it reports to Cargill. 

The change will make access to “mine-related documents” under FOIL (Freedom of Information Law) — already heavily restricted — even more limited, according to John Dennis, another plaintiff in the case.

In its notice to the public, the DEC downplayed both its new permit condition for the FPA and its altered relationship with Cargill’s main consultant as “mostly housekeeping changes.” 

Plaintiffs Louise Buck and William Hecht, a geologist, said turning over management of the third-party consultant to Cargill introduces “an unacceptable conflict of interest.”

The 2018 map that depicted the FPA as an oval, giving Cargill maximum mining leeway, was produced by that consultant, John T. Boyd Co., as part of a 2018 letter to the DEC.

Cargill mines salt on 3,000 acres 2,300 feet beneath the surface of Cayuga Lake.

For two decades, Hecht has waged campaigns to pry loose mine safety documents that the DEC has withheld based on Cargill’s assertion that they are confidential “trade secrets.”

In 2003, two administrative law judges at the DEC concluded that Cargill had failed to carry its burden of proof, giving Hecht an apparent victory.

“Strong policy considerations support the release of information in this case,” James McClymonds, the agency’s chief ALJ wrote. “Shielding from public scrutiny the very information necessary to assess the potential environmental impacts associated with a proposed mine is inimical to that process.” 

But MyClymonds was overruled months later by an assistant DEC commissioner, and many documents at issue have remained under seal.

In an affidavit in the recent CLEAN lawsuit, Hecht said:

“Have we learned nothing? The DEC must stand up and protect the resources of New York they hold in trust for future generations.”

Hecht asserts that Cargill should be required to prepare an EIS that covers the decommissioning of the mine. 

Raymond Vaughan, a geologist from Buffalo and expert witness in the lawsuit, said thinning bedrock and rock faults around the FPA pose “a risk to mine stability and integrity.” 

Cargill announced in January plans to close its Avery Island salt mine in Louisiana following a roof collapse that killed two miners.

He said the need for protection against those risks is based on lessons learned from the 1994 roof collapse at Akzo’s Retsof salt mine in Livingston County, which had been in operation for about a century. That incident 90 miles west of Cayuga Lake led to the complete flooding of the largest salt mine in North America.

Until recently, Cargill had operated three major rock salt mines in the United States: the Cayuga mine, a mine near Cleveland and a mine in Louisiana.

In December, a roof collapse at the Louisiana mine on Avery Island trapped 18 miners underground. While 16 escaped, two men died. Six weeks later Cargill announced plans to permanently close the mine it had operated for 24 years.

A preliminary accident report filed by the federal Mine Safety and Health Administration said Rene J. Romero Jr. and Lance Begnaud had been drilling in a section of the mine when the roof fall occurred. The MSHA has not completed its final report on the incident.

The Louisiana mine employed 200, roughly the same number currently employed at the Cayuga mine.

Comment by Crunchy2chew on Jul 17, 2022 4:50pm
Awesome article guy, Just like Rowland said the expsting mines are getting long in the tooth. They have increasing difficulties in their mining and the costs involved with legacy maintainance is high. Atlas will be the Gold Gold standard of salt mine and well we are going to make salty coin on this. I stand by my $76 pps for the mine only in a bidding war. But This may be on the low side. There ...more  
Comment by kilofinal7 on Jul 17, 2022 5:01pm
I can see Cargill, Stone Canyon participating in a bidding war for Great Atlantic. As a private company, Cargill had revenues of over $134 Billion dollars in 2021.  Anyone who thinks Atlas Salt will give away Great Atlantic for $500 million has to give their head a shake  I encourage all investors to dig deeper. Take a look at what's happening at Stone Canyons Ojibway salt mine in ...more  
Comment by Crunchy2chew on Jul 17, 2022 7:52pm
Its crazy but there are people out there arguing that $5 ot $10 will be the max. It says a lot about how much research they have done or theit overall smarts. I am sticking to me $76 pps in a buyout of the mine. And I think I am being conservative. 
Comment by lovingu on Jul 17, 2022 9:44pm
CRUNCHY go to google put in heat wave and then search news  the mine will be priced based on a 10-12 year life not 100's of years  in 10-15 years winters will be mild at worst 
Comment by Crunchy2chew on Jul 18, 2022 5:40am
Haha you are a "global warming" conspiracy theorist. Who does not believe in science. You silly people with your cooky beliefs that cow farts are heating up the planet. The good news is that your cricket paste factories have opened in ontario and new brunswick. Now you can think you are saving the planet by munching on ground up insects. And i hope you have an electric car (giggle ...more  
Comment by Scionxb777 on Jul 18, 2022 8:41am
The  winters in Canada are worse than ever with way more icy conditions requiring salt
Comment by lifegoeson on Jul 18, 2022 9:21am
Scion, whether one believes in Global warming or not, the recorded extremes over the last few years are well documented, hard to deny that it hasn't been hot. Are temperatures higher or lower when compared to the 1,600's, the reality is they are recorded today very accurately. I remember when I was a kid back in the 50's, it was cold, it snowed and stayed, and when the snow covered ...more  
Comment by Canticle on Jul 18, 2022 9:34am
UK has hit the highest temperatures in recorded history today, and GEOS currently reporting due to increased acidification of the Atlantic amd Carribbean, they are recording plankton die off up to 90%, 25 years ahead of expectations, with levels of man made pollutants responsible 10 times the levels anticipated. Plankton produces dimethyl sulfide which is one of the critical components in cloud ...more  
Comment by lifegoeson on Jul 18, 2022 9:42am
Canticle, hard to refute data like that. Cyclical or not, the trend is worrisome. I sure would't want to live in any low lying areas around the world in the coming 50 years. I will be long gone.
Comment by Canticle on Jul 18, 2022 9:50am
The trend is there and serious. The only reason to debate whether or not its anthropogenic is rooted in whether you actually want to change your lifestyle. It's easier to do nothing and refuse to adjust how you live your life and continue to do whatever you want if you insist that its part of a natural cycle, because then you don't actually have to do anything about it or care what happens ...more  
Comment by Crunchy2chew on Jul 18, 2022 10:34am
You enjoy your cricket burger and living like a third world pauper. I will burn an old tire while driving my truck and eating a steak to celebrate your sacrafice at the alter of the NWO.  Winters are not going away. 
Comment by Canticle on Jul 18, 2022 11:13am
Where did I say winters were going away? Nowhere. They'll remain, the question is how severe and in what form. In Manitoba, its very likely winters will be shorter and more extreme, and that seems to be the trend over the last few years. In other Provinces it will manifest in different ways depending on their particular climate. In the maritimes, it's already having an impact, in some ...more  
Comment by twoponds on Jul 18, 2022 11:27am
I don't know but history has demonstrated that the climate will change.  What human influence had an impact on the ice age?  Like wth??  That's why I simply laugh at those that think CO2 has anything to do with the so-called educated science that's available in copious amounts to the gullible...global warming my azz!  When will people see it as carbon taxed scam ...more  
Comment by Donwaan on Jul 18, 2022 11:43am
Would you have bought a ticket on the Titanic? Great ship, state of the art..what could possibly go wrong? But I apologise, this is a stock forum and not necessarily about climate or lifestyle choices.
Comment by Canticle on Jul 18, 2022 11:46am
Well, like it or not, climate change does impact stocks, for a variety of reasons. Even Atlas Salt specifically benefits from it due to their spinoff being focused on an energy hub concept that, in part, is ultimately funded by your tax dollars as the Federal Government is supporting Green Energy Projects specifically as part of their climate change policies. The success or failure of Triple ...more  
Comment by Crunchy2chew on Jul 18, 2022 12:12pm
The federal government is illegitimate and an enemy of the people right now controlled by foreign entities and the public does not want the BS green garbage. Yes less pollution is a great thing but eco retards in Texas cant charge their teslas because the grid is on the verge of collapse. I am not willing to eat bugs and alter my way of life. For our stock and Tripple point the eco retardation is ...more  
Comment by twoponds on Jul 18, 2022 2:18pm
...Donwaan, would I step outside knowing that there's a "one in a million" chance of being struck by lightning?  I think you know where I'm going lol... Salut two...
Comment by Donwaan on Jul 18, 2022 2:21pm
Weren't those the odds for the Titanic too ..hehehe
Comment by Crunchy2chew on Jul 18, 2022 12:14pm
Two, careful you know that logic and science is triggering to liberals..... Anyway back to Atlas.
Comment by Donwaan on Jul 18, 2022 11:24am
I am with you all the way Canticle! Are we individually willing to change how we live and accept some responsibility for climate change. If a crash is imminent wouldn't it naturally follow to put on the brakes and slow down? The crux is taking a degree of responsibility. But as you point out it is easier for most to do nothing and justifying that by feeling they are being victimized by climate ...more  
Comment by Crunchy2chew on Jul 18, 2022 10:31am
You sound like justin castro voter who is looking forward to cricket burgers. One question if i say only women can have babies does that trigger you?
Comment by Crunchy2chew on Jul 18, 2022 9:38am
The wrather is cyclical. Ever see that bright ball in the sky
Comment by Canticle on Jul 18, 2022 9:46am
The appropriate phrase isn't global warming per se, since climate change produces more variable weather and extremes. It's 100% proven that global temperature averages have increased 1.09 degrees since accurate records started being kept in 1850, since that's simply documented. Some people want to argue that its part of a natural cycle and you know what? That's fine, doesn't ...more  
Comment by kaos12 on Jul 18, 2022 12:43pm
No, actually there are not. 
Comment by Donwaan on Jul 18, 2022 12:57pm
Fortunately kaos everyone on both sides of the climate issue uses salt. As Michael Jordan famously observed...even Republicans buy sneakers. Likewise with salt, everyone needs and uses it.
Comment by Crunchy2chew on Jul 18, 2022 1:48pm
Amen brother.
Comment by Donwaan on Jul 18, 2022 2:07pm
We are in agreement Crunchy!
Comment by twaver on Jul 18, 2022 11:40am
Sure, lovingu, and the world is going to end in three years.  Just as AOC.. LOL
Comment by twaver on Jul 18, 2022 11:54am
CLEVELAND, Jan. 22, 2019 /PRNewswire/ -- US demand for salt is forecast to rise 2.4% annually in volume terms through 2022, according to Salt: United States, a report recently released by Freedonia Focus Reports. Advances will largely reflect a return to trend in ice control and stabilization applications, as well as growth in the polyvinyl chloride (PVC) production, food ...more  
Comment by yureja5 on Jul 18, 2022 12:22am
This post has been removed in accordance with Community Policy
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