About Atlas Salt
Atlas is rapidly advancing its 100%-owned Great Atlantic Salt Project through the Feasibility Stage as an environmentally friendly state-of-the-art “Salt Factory” in western Newfoundland.
SLR Consulting (Canada) Ltd. (SLR) has advised Atlas that it will provide the results of a Preliminary Economic Assessment (PEA) by mid-January 2023. This economic assessment is a prelude to the Feasibility Study and will describe the current economic valuation for the project subject to refinement in the final Feasibility analysis that will follow in early 2023.
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 can generate robust cash flow for generations. Great Atlantic is unusually shallow by industry standards with geotechnical data continuing to support the objective of accessing this deposit through an inclined ramp as a unique and highly efficient mining method among North American salt deposits.
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 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 Brook) located 15 km south of Great Atlantic. Fischell’s Brook’s potential for underground energy storage makes it a highly strategic asset in the heart of Newfoundland’s emerging Clean Energy Hub.
“The salt endowment on the west coast of Newfoundland is truly remarkable. Great Atlantic is a highly advantaged asset that could hold the key to security of road salt supply in North America for decades to come. The Fischell’s Brook salt dome with its underground energy storage potential is a key asset in Newfoundland’s emerging Clean Energy Hub.”