Baffinland owes northern businesses and organizations $27M – Nunatsiaq News

Jun 4, 2026

Company’s total debt is $2.6B, twice as big as initially reported, according to court-ordered creditors list

Baffinland’s debt amounts to more than double what it originally reported in May, with $27 million of that owed to a dozen northern and Inuit businesses and organizations.

The Oakville, Ont.-based mining company, which operates the Mary River iron mine on northern Baffin Island, published a list of 231 creditors on May 22 as part of creditor protection proceedings that have been ongoing in the Ontario Superior Court of Justice since May 15.

Baffinland Iron Mines Corp. owes a total of $2.6 billion, according to the document, as of May 14. That’s almost $1.6 billion more than what the company initially reported. The court filings include these totals in US dollars, which Nunatsiaq News has converted to Canadian dollars.

Read More: https://nunatsiaq.com/stories/article/baffinland-owes-northern-businesses-and-organizations-27m/