Company Overview
Atlas Salt owns 100% of the Great Atlantic salt deposit, North America’s premier undeveloped salt project. An independent Feasibility Study released in August 2023 gave robust economics and demonstrates how this best-in-class asset is uniquely positioned to become a highly efficient, scalable, and environmentally friendly “Salt Factory” on the west coast of Newfoundland – a salt mine for the 21st century (the first new one in nearly 3 decades).
Salt deposits hold major advantages over traditional metal deposits in terms of capital costs, permitting, overall risks of execution, and mine life.
New Atlas CEO Rick LaBelle has recruited a top tier Great Atlantic “Build Team” with a reputation for putting world class deposits into production on time and on budget.
Located immediately beside important infrastructure including a deep water port, Great Atlantic is strategically positioned in the heart of the robust Eastern North America road salt market that relies heavily on overseas imports to meet annual demand.
Atlas President Rowland Howe developed Goderich into the largest underground salt mine in the world during his tenure as mine manager with NYSE-listed Compass Minerals International. An efficient salt mine like Goderich generates impressive free cash flow for generations. There’s every reason to believe that Great Atlantic, benefiting from new technologies, will be a globally recognized low cost producer for decades.
Salt is big business in North America. Since 2020 private equity has completed $5.2 billion (U.S.) in acquisitions in this recession-resistant sector.
Meanwhile, Atlas is the largest shareholder in Triple Point Resources Ltd. which is applying to list on the Canadian Securities Exchange. Through an Atlas spinout completed in September 2022, Triple Point owns Newfoundland’s only known salt dome (Fischell’s) located 15 km south of Great Atlantic. Fischell’s potential for underground energy storage in multiple salt caverns makes it a highly strategic asset in the heart of Newfoundland’s emerging Clean Energy Hub.
I've been in the salt business for more than three decades and I can unequivocally state that Great Atlantic is a truly remarkable deposit. The independent Feasibility Study confirms how Great Atlantic is such an advantaged asset with the potential to produce for generations. Rick LaBelle is a proven mine builder who has assembled an incredible team to unlock the value of the premier undeveloped high-grade salt project in North America.