Competitive process launched for development of Lake George antimony mine
Press Release
March 24, 2026
Expressions of interest being sought by government
FREDERICTON – The government is seeking private-sector interest in the mineral exploration and development of the former Lake George antimony mine site, about 30 kilometres southwest of Fredericton.
This site, with a known presence of antimony, and potentially tungsten and molybdenum, represents a significant opportunity to unlock a domestic supply of critical minerals.
“In today’s economic and geopolitical climate, the need for secure, responsibly produced critical minerals has never been greater,” said Natural Resources Minister John Herron. “New Brunswick is well positioned to meet that demand by attracting investment, supporting responsible development, and strengthening partnerships with Indigenous communities to create long-term economic benefits for New Brunswickers.”
In alignment with the government’s new comprehensive minerals strategy, a competitive expression-of-interest process has been launched to identify a proponent for a potential exploration agreement.
Lake George was once North America’s largest primary antimony mine and contains an estimated 800,000 tonnes of antimony-bearing ore, based on a historical technical report. At current prices of $22 per pound, this represents an estimated value between $933 million and $1.05 billion.
Antimony is designated as a critical mineral by Canada, the United States and the European Union. With global supply heavily concentrated in China, there is growing demand for secure and reliable sources. The project represents an opportunity to support domestic supply chains while advancing economic development in the province.
The expression-of-interest process is non-binding, and no mineral rights will be assigned unless a formal exploration agreement is reached. Information on how to submit an expression of interest is available on the department’s website. Submissions will be evaluated based on technical expertise, financial capacity and a demonstrated commitment to meaningful engagement with Indigenous communities, as well as long-term economic benefits for New Brunswickers. All activities will be subject to New Brunswick’s regulatory and environmental review processes.
Interested parties are encouraged to contact the Department of Natural Resources at recorder-archiviste@gnb.ca.
24-03-16
Related links
Department of Natural Resources – how to submit an expression of interest
Media Contact(s)
Nick Brown, communications, Department of Natural Resources, nick.brown@gnb.ca.
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