Baffinland gets $110M loan, court‑approved extension(opens in a new tab)
Court grants Baffinland a $110 million loan and an August extension to keep its Mary River iron ore mine operational while the company restructures debt.
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Baffinland Gets $110 Million Loan and August Extension to Keep Arctic Mine Running
Ontario’s Superior Court granted Baffinland Iron Mines a $110 million loan covering operations through June 30 and extended its creditor‑protection stay to Aug 28. The extension lets the company keep its Mary River iron‑ore mine running while it seeks interim financing, including a possible $400 million debtor‑in‑possession loan. A June 30 hearing will decide that and a supplier‑charge approval of up to $100 million has also been secured.
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Mining.com The Northern Miner Baffinland gets $110M loan, court-approved extension(opens in a new tab)
Baffinland Iron Mines secured a $110 million court‑approved loan and an extension of its creditor‑protection stay until Aug. 28, allowing the company to keep mining, shipping and port operations at its Mary River mine running while it seeks further financing or a sale.
