![]() Rambler Metals and Mining Financial trouble It's a pretty uncertain time for everyone involved, including us as a municipality, and other municipalities on the peninsula." The Rambler Metals and Mining precious metals processing facility in Nugget Pond. But there's a lot of people right now, they're just sitting and waiting to see what happens. Some people have moved on and gotten other positions in other areas of the country - doing fly-in and fly-out. ![]() "There's a lot of people that are now unemployed. ![]() "The impact is far-reaching with its closure," Humby said. The only employees now working locally are those related to asset security and maintenance during warm idle. Town of Baie Verte chief administrative officer Amanda Humby told SaltWire that Rambler employs more than 300 workers and is the largest employer on the peninsula. Non-binding letters of interest are due Friday, May 19, at 5 p.m.Īccording to a public notice published over the weekend in The Telegram, the mine had an estimated remaining life of 19 years as of May 2022, holding approximately 428,000 tonnes of copper and 271,000 ounces of gold. The Supreme Court of Newfoundland and Labrador granted the order for creditor protection in late February.Īccounting firm Grant Thornton, a court-appointed monitor, is overseeing a sale and investment solicitation process (SISP) whereby third parties can buy or invest in some or all of Rambler's business interests in the area. Rambler Metals and Mining Canada is under creditor protection, with operations having ceased in late March at the Ming mine in Baie Verte, the Nugget Pond precious metals processing facility and the Goodyear's Cove bulk storage and shipping facility. Hundreds of jobs on Newfoundland's Baie Verte Peninsula are very much in limbo as a deadline looms large for a gold and copper mine tied up in financial trouble.
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