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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 kilometers (km) southwest of Great Atlantic salt deposit, which is an early-stage and open-pit production from the Ace deposit. Its Nepheline Syenite Property consists of a surface occurrence of nepheline syenite along the southern Labrador highway. The project is located approximately six km from tide water.


TSXV:SALT - Post by User

Post by kilofinal7on Jul 16, 2022 3:45pm
238 Views
Post# 34829251

Windsor Salt says supply for plant will run out in 5-10 year

Windsor Salt says supply for plant will run out in 5-10 year

Another reason why Great Atlantic will be a target

Windsor Salt says supply for plant will run out in 5-10 years, will ask council to access reserves

Windsor Salt says the current supply for its evaporation plant will only last another five to 10 years. The company is set to appear before council Monday to ask for approval to access other deposits under the city.

The company employs 350 people at the plant and the Ojibway Mine, according to a presentation included in the council agenda.

The company produces evaporated salt used for household and food items, and rock salt, which is used for water softening and industrial purposes such as melting snow and ice.

But the lifespan of the salt stock the company has been tapping for more than a century is running low.

"The supply of salt that we currently source from salt reserves under the city will only sustain production at our Windsor evaporative salt plant for another five to 10 years," reads the presentation.

Windsor Salt needs access to further reserves in order to secure its future.

 
Windsor Salt is asking council to work with the company to access further salt reserves. (Google Maps)

The company says some of the "best and most accessible" deposits are under land owned by the city and province.

It's suggesting a collaboration between the three parties to identify the best locations, process permits and ensure mineral rights where necessary.

The company is asking for a resolution from council directing staff to work with it to "identify  sustainable solutions that can secure the long-term future" of the evaporation plant.

Windsor Salt goes on to say that it's project will comply with environmental and licensing requirements.



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