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Federal government providing Canada Fluorspar with $5M loan

The federal government announced today it will support Canada Fluorspar's mining project in St. Lawrence with a $5 million repayable contribution.

Equipment arrives at the site of the St. Lawrence mine in this photo taken from the Canada Fluorspar's website.

The funding is being provided through the Atlantic Canada Opportunities Agency’s (ACOA) business development program.

It will assist the company in acquiring and installing innovative equipment for processing of the fluorspar at the mine and support Canada Fluorspar’s commitment to clean technology, according to a news release today.

The investment will help create up to 350-400 jobs during the construction phase and up to 200 jobs during the operational phases of the project.

The provincial government announced a $17 million loan for the company last week.

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