Atlas Salt Submits Early Works Development Plan for Great Atlantic Salt Project
Rhea-AI Summary
Atlas Salt Inc. (TSXV:SALT)(OTCQB:REMRF) has submitted its Early Works Development Plan for the Great Atlantic Salt Project in Newfoundland and Labrador to the Department of Industry, Energy and Technology. The plan outlines site preparation and early-stage infrastructure development ahead of full-scale mine construction.
The key components include:
- Construction of a 1.3 km primary access road and 300m secondary access route
- Site preparation activities including clearing, grubbing, and stockpile pad grading
- Development of laydown areas and temporary construction facilities
- Implementation of environmental controls including stormwater management systems
Pending governmental approval, Early Works construction is scheduled to begin in 2025. The company aims to position itself as a leading low-cost producer in the North American salt market through this development.
Positive
- Project development milestone achieved with Early Works Plan submission
- Strategic positioning as potential low-cost salt producer in North America
- Phased approach helps de-risk project development
Negative
- Construction start still pending governmental approval
- Additional capital expenditure required for infrastructure development
News Market Reaction 1 Alert
On the day this news was published, REMRF gained 0.05%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR / ACCESS Newswire / March 3, 2025 / Atlas Salt Inc. ("Atlas Salt" or the "Company") (TSXV:SALT)(OTCQB:REMRF) is pleased to announce the formal submission of the Early Works Mine Development and Rehabilitation and Closure Plan (the "Early Works Development Plan") to the Department of Industry, Energy and Technology for the Government of Newfoundland and Labrador, for the Great Atlantic Salt Project (the "Project") in Newfoundland and Labrador, Canada.
The submission of the Early Works Development Plan marks a critical milestone in advancing the Project toward construction. This plan outlines the phased approach for site preparation and early-stage infrastructure development, ensuring regulatory compliance while de-risking key project components ahead of full-scale mine construction.
Key Components of the Early Works Development Plan
Site Preparation: Clearing and grubbing activities, stockpile pad grading, and initial earthworks to establish the mine site footprint.
Primary and Secondary Access Roads: Construction of a 1.3 km primary access road from Steel Mountain Road and a 300 m secondary access route along the planned conveyor corridor.
Surface Infrastructure: Development of laydown areas, temporary construction facilities, and essential utilities to support subsequent project phases.
Sediment and Erosion Control Measures: Implementation of stormwater management systems, catchment ditches, and a temporary settling basin to mitigate environmental impacts.
Regulatory Compliance and Permitting: Submission of required approvals for road access, site disturbance, and water management infrastructure, ensuring alignment with provincial environmental guidelines.
The Early Works Development Plan enables Atlas Salt to initiate critical site activities ahead of full project execution, accelerating timelines for major construction phases. By proactively addressing key infrastructure and environmental management requirements, the Company aims to optimize the transition into mine development while maintaining a rigorous approach to regulatory compliance.
Richard LaBelle, CEO of Atlas Salt, commented: "The submission of the Early Works Development Plan represents another significant step in de-risking the Great Atlantic Salt Project and positioning Atlas Salt as a leading low-cost producer in the North American salt market. This milestone ensures we remain on track for the timely development of critical project infrastructure, paving the way for commercial production."
Pending governmental review and approval, Early Works construction is expected to commence in 2025, with subsequent phases progressing in alignment with the overall project schedule.
For further information and ongoing updates, please visit https://atlassalt.com.
About Atlas Salt Inc.
Atlas Salt Inc. is developing Canada's next salt mine and is committed to responsible and sustainable mining practices. With a focus on innovation and efficiency, the company is poised to make significant contributions to the North American salt market while upholding its values of environmental stewardship and community engagement.
For information, please contact:
Richard LaBelle, CEO
investors@atlassalt.com
(709) 739-9545
We seek safe harbor.
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: obtaining financing, completion, delivery and timing of project components and requirements, and analysis and assumptions related thereto. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of required permits, supply arrangements and financing. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE: Atlas Salt Inc.
View the original press release on ACCESS Newswire
FAQ
What are the main components of Atlas Salt's (REMRF) Early Works Development Plan?
When will Atlas Salt (REMRF) begin construction at the Great Atlantic Salt Project?
What environmental measures are included in Atlas Salt's (REMRF) development plan?
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