Infracon Announces Acquisition of the Kapuskasing Phosphate Mine and Processing Plant in Northern Ontario
December 19, 2024 6:00 AM EST | Source: Infracon Construction Inc.
Kamloops, British Columbia--(Newsfile Corp. - December 19, 2024) - Infracon Construction, Inc. ("Infracon") is pleased to announce the acquisition of 2333382 Ontario, Inc., owner of the former Agrium Phosphate Mine in Kapuskasing, Ontario, a processing plant located in Matheson, Ontario and various other mineral properties in Ontario, through its wholly owned subsidiary, KAP Minerals, Inc. ("KAP") Geoff Hampson, CEO of Infracon Construction, Inc. will act as the CEO of the company.
KAP Minerals Inc. has collaborated and consulted with the Taykwa Tagamou Nation ("TTN") and has agreed to work with them to put in place a Benefits Agreement that will develop programs to provide employment and contracting opportunities with First Nations-owned businesses in the region. Kap Minerals plans to deploy substantial capital to bring this asset back into production, providing economic opportunities to the region by facilitating training and creating jobs. KAP is committed to fostering a skilled workforce within the community and to collaborating with the TTN.
KAP Minerals will focus on commercializing the Apatite deposit, located in the Cargill Township Carbonatite Complex. The deposit is known for its high-quality Phosphate rock with ultra-low Cadmium levels. Globally, only 5% of the phosphate rock reserves consist of low-cadmium igneous rocks. The KAP site also has a significant Rare Earth deposit in the existing tailings that are also in strong demand as critical minerals for the North American and global markets.
Nitrogen (N), phosphorus (P) and potassium (K) are the primary nutrients in commercial fertilizers. Phosphate rock plays a vital role in ensuring the food security and adequate nutrition of billions of people worldwide. Phosphate has recently been added to the EU and Canadian Critical Minerals List. In addition to fertilizers, phosphate is crucial for growth in the renewable diesel and sustainable aviation fuel industries by supporting feedstock growth and contributing to the overall sustainability of these alternative fuels. Phosphate is also a critical mineral for producing Lithium Iron Phosphate (LFP) batteries, which are integral for electric vehicles and battery storage.
KAP Minerals, Inc. also announces that it has appointed Mr. Jeff Ivan of Okotoks, Alberta, as President and COO of the Company. Jeff Ivan is an accomplished professional in the Agri-minerals business with 35 years of experience and brings a unique talent to the company, having conducted business in various international markets. His experience and knowledge of the Agri-minerals business, as well as the international fertilizer markets, will be instrumental in the future developments of KAP Minerals. Jeff also co-founded Soilgenic Technologies, which focuses on improving fertilizer efficiency with a suite of technologies that reduce the global impact of nutrient loss and the production of GHG emissions. Jeff's expertise and focus on improving fertilizer efficiency will be essential to KAP Phosphate and the development of future sustainable phosphate fertilizers.
ABOUT THE INFRACON GROUP
The Infracon Group of Companies ("Infracon") is a collection of specialty construction companies involved in heavy civil, pipeline, welding, and construction materials businesses in Western Canada. It is one of the fastest-growing construction groups in Canada, with an average annual revenue growth of over 65%. Infracon has expanded from revenues of under $30 million in 2018 to over $180 million in 2022. The group also boasts several successful Indigenous partnerships that contribute significantly to local communities. Infracon operates centers in Kamloops, Merritt, Hope, and Dawson Creek, BC, as well as Calgary, AB. The company specializes in pipeline integrity and construction, heavy civil construction, mine construction, contract mining, and mine remediation in both urban and remote projects.
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