New Brunswick Signs Mining Deals to Explore Critical Minerals

The Government of New Brunswick signed two exploration agreements to evaluate the reopening of abandoned mine sites as part of a broader effort to rejuvenate the provincial mining industry. One agreement grants Toronto-based Avenir Minerals exclusive rights for 30 months to study the former Lake George mining site, located southwest of Fredericton.

Operating intermittently between 1876 and 1996, the Lake George site was previously one of the largest producers of antimony in North America. Avenir Minerals will conduct a study involving drilling and First Nations consultation to assess the site for antimony and other critical minerals. Antimony is a key component in solar panels, flame retardants, and military technology, including nuclear weapons and infrared missiles.

In a parallel move, the Liberal government signed a second exploration deal with U.S.-based Regeneration Enterprises for an abandoned mine located in northern New Brunswick.