Former Agrium phosphate mine planned for revival with a new owner

British Columbia-based Infracon Construction has announced the acquisition and planned revival of the former Agrium Phosphate Mine, located near Kapuskasing in Ontario, Canada. The acquisition, finalized on December 19, includes the defunct open-pit mine that ceased operations in 2013, a processing plant in Matheson, and additional mineral properties.

Although the financial details of the transaction were not disclosed, the assets have been transferred from a numbered company, 2333382 Ontario Inc., to KAP Minerals, a newly formed subsidiary of Infracon. Geoff Hampson, CEO of Infracon, has been appointed to lead KAP Minerals. The company plans to invest significant capital to restart production at the mine and has committed to providing training and job opportunities.

The mine’s apatite deposit is noteworthy for its high-quality phosphate rock, which contains unusually low levels of cadmium. This type of rock is rare, with only five percent of global phosphate reserves comprising low-cadmium igneous rocks. Phosphorus, extracted from these deposits, is a crucial component in commercial fertilizers and is listed as a critical mineral by both Canada and the European Union due to its applications in biodiesel, aviation fuels, and lithium iron phosphate batteries.

Additionally, the site is reported to contain significant rare earth deposits within the existing tailings, which are in high demand as critical minerals for North American and global markets.