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2mo ago

Kameron Launches Sale Process for Idle Donkin Mine

The Cline Group has engaged Perella Weinberg Partners to secure a buyer for the subsea coal mine with no clear reopening timeline.

Kameron Coal’s Donkin Mine has been idle since July 2023.
Workers repair the road leading to the Donkin coal mine in Donkin, N.S., on Monday Dec. 13, 2004. THE CANADIAN PRESS/Andrew Vaughan
Some of the 150 people who attended a November 2023 rally in support of laid-off Donkin Mine workers in the parking lot of the Glace Bay Miners Museum.
Kameron Collieries ULC, also known as Kameron Coal, is the owner of Donkin Mine.

Overview

  • Kameron Collieries has informed Morien Resources of its intent to explore a sale of its 100% stake in the Donkin Mine.
  • The Cline Group has retained U.S.-based Perella Weinberg Partners to lead the potential sale, with no binding offers yet.
  • Production has been suspended since July 2023 after roof falls triggered government stop-work orders.
  • Morien Resources holds a binding 2–4% production royalty on the mine that will remain through any ownership change.
  • Regulatory and market uncertainties leave no timeline for reopening or guarantee of a completed transaction.