Vulcan Materials Company (“Vulcan”), the United State’s largest producer of construction aggregates, purchased Morien’s rights to the Black Point Aggregate Project in Q2 2014 (click here for press release).
The proposed Black Point Project (“Project”) consists of the development and operation of a construction aggregate quarry and marine terminal in Guysborough County, Nova Scotia. The Project consists of quarry development and aggregate production on an undeveloped, 354 hectare property, along with the construction and operation of a marine terminal adjacent to the quarry in Chedabucto Bay. Processed aggregate will be off-loaded into Panamax size bulk carriers and transported to ports along the eastern and Gulf coast of the United States and potentially to markets in Canada and the Caribbean.
Black Point’s positive attributes include:
- Sizeable resource of approximately 400 million tonnes according to Vulcan’s internal estimates (not verified by a National Instrument 43-101 technical report);
- Mine life of 50+ years (not verified by a National Instrument 43-101 technical report);
- Project is adjacent to deep water (>14 metres), which is sheltered and ice-free, enabling construction of a deepwater marine terminal for aggregate shipment to the United States *; and
- Very high quality, “Class-A” construction aggregate well suited for the concrete and asphalt market (not verified by a National Instrument 43-101 technical report).
* In the United States market, the majority (80% or more) of aggregates are transported by truck from the quarry to the consumer. This form of transport is expensive and limits the typical aggregate operation to a market radius of about 80 kilometres from the quarry. The south eastern United States aggregate market is a prime target for bulk vessel transported aggregate due in part to the geologic absence of suitable aggregate resources in coastal areas.
For more information on the Black Point Project, please visit the Black Point Quarry website (maintained by Vulcan Materials) by clicking here – www.blackpointquarry.com.