Proterra-backed Tacora Resources buys Scully Mine
Tacora Resources Inc, an iron ore mining and development company, has acquired the assets of the Scully Mine located in Wabush, Newfoundland and Labrador. No financial terms were released for the deal, which was struck with Wabush Iron Co Ltd, Wabush Resources Inc and Wabush Lake Railway Co Ltd under a court-supervised process. Tacora said it is working with stakeholders, including the provincial government and union, to restart the mine. The Grand Rapids, Minnesota-based company said its financial partner is Proterra Investment Partners, a U.S. resource private equity firm.
19 July 2017•3 mins read
