Judge approves $110M loan to keep Mary River mine operating through summer – Nunatsiaq News
Jun 11, 2026
Baffinland seeks approval for loans as it navigates creditor protection proceedings
Baffinland will stay operational through the summer after an Ontario Superior Court judge approved its request for a $110 million loan.
Now, after Justice Jana Steele heard submission from several lawyers in a downtown Toronto courtroom on Wednesday, she must decide who will provide that loan.
Baffinland Iron Mines Corp., which operates the Mary River iron mine on northern Baffin Island, announced May 15 it was applying for creditor protection. At that time, the company owed $2.6 billion to 231 creditors.
