A restart of the Dufferin gold mine on the Eastern Shore is back on track, with financing soon to be finalized with a New York City group.
“There’s lots of people who will lend you money; it’s a matter of finding the right terms, and we believe we’ve been successful,” Doug Keating, manager of the Ressources Appalaches gold mine in Port Dufferin, said Friday.
Representatives of the financial group recently toured the Dufferin gold mine and have completed the necessary due diligence, Keating said.
A formal announcement on a financial plan, including the amount involved and the identity of the backers, can be expected within a couple of weeks, with production to resume about six to eight months later, he said.
The project suffered a setback earlier this month when an $8.5-million financing deal collapsed.
Keating said he wanted to get out word about the gold mine to offer something positive to unemployed people in the province with mining experience.
He said he also wants to keep people working elsewhere across Canada informed.
“This project will create jobs that will allow some Nova Scotians to return home,” he said.
The company will create 50 to 65 jobs, and Nova Scotians will get priority whenever possible. Keating said some importation of specialized technicians will be required in the initial stages of restarting the mine.
“We’re confident that with the underground mining and with the processing, we can find experienced Nova Scotians interested in working in the Port Dufferin-Sheet Harbour area.”
Keating hails from Little Harbour, a fishing village, in the nearby Lake Charlotte area.
He said he’s excited to be working in the mining industry on the Eastern Shore and expressed confidence the area will appeal to other experienced mine workers.
Keating said he backs the Mining Association of Nova Scotia in its efforts to persuade the provincial government to be more supportive of the industry by extending the fuel tax rebate offered to the farm, fishery and forestry sectors.