Atlas Salt (TSX-V:SALT) was presented at this week’s Canada Investment Summit as part of the federal government’s broader efforts to secure C$1 trillion ($1.01 trillion) in total investments.
In a press release on Wednesday following the conclusion of the summit, Atlas confirmed it was included in one of the hundreds of Canadian projects pitched to investors.
The event, which took place in Toronto during 14–15 September, represents the first-of-its-kind national investment forum hosted by Prime Minister Mark Carney in partnership with the country’s major finance institutions.
A total of 167 projects were included in the official summit prospectus, with mining being the largest category.
Atlas says its inclusion in the prospectus positioned its flagship Great Atlantic Salt Project alongside a select group of strategic Canadian investment opportunities presented directly to international investors.
“The summit highlighted the opportunity for both international and Canadian sources of long-term capital to participate in the development of strategic projects,” Atlas Salt CEO Nolan Peterson said in the statement.
According to Atlas, its Great Atlantic Project is on track to become one of North America’s largest salt-producing operations and is expected to serve key markets throughout Eastern Canada and the Northeastern US.
Recently, the company partnered with CN, Canada’s largest railway operator, to explore distribution solutions for de-icing salt from its Great Atlantic site.
The project, which Atlas describes as the “only Feasibility-Stage salt project” in North America, is expected to produce 4 million tonnes per annum over an estimated 24-year mine life.
According to its 2025 Feasibility Study, the project has an after-tax net present value of approximately C$920 million — calculated using an 8% discount rate — and an internal rate of return of 21.3%. Initial capital costs are pegged at C$589 million.
Earlier this month, Altas secured C$300 million in letters of interest to fund the project’s development.
“As we advance toward a full construction financing package, the summit and associated events provided a platform to showcase the Great Atlantic Salt Project as we engaged with leading institutional financial partners and government stakeholders from Canada and around the world,” Peterson says.
Atlas Salt is developing North America’s next salt mine and is committed to responsible and sustainable mining practices.
Write to Jackson Chen at Mining.com.au
Image: Atlas Salt
