Rock Products - The Leading Voice of the Aggregate Industries.
 
 

Vulcan Heads North


Dec. 5, 2014 – Morien Resources Corp., a Canadian mining exploration and development company that holds a 25 percent interest in the Donkin Coal Project in Cape Breton, Nova Scotia, Canada, and non-operating royalty interests in two Vulcan-176x76
other projects, noted in a release concerning environmental assessment approvals from the federal and provincial governments that rights to its Black Point Aggregate Project, Nova Scotia, were sold to Vulcan Materials in Q2 2014, and that Vulcan is currently permitting the project for eventual production within the 2018 to 2020 period. Morien received "an industry competitive per-ton royalty for the life of mine which is expected to continue for more than 50 years, $1 million in payments from Vulcan on signing, and is entitled to receive an additional payment of $800,000 on the successful environmental permitting of the project, anticipated in late 2015." I look forward to seeing this interesting project, giving Vulcan a footprint in Canada, come to fruition.