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Hearst area graphite mine put on hold

A company that was looking at developing a graphite mine northwest of Hearst near Constance Lake First Nation has put the project on hold.

Zentek officials say due to a deteriorating market for battery metals and graphite the project is being shelved until conditions improve.

They add the company believes in the long-term value and potential of the Albany Graphite Deposit and intends to continue to evaluate potential financing, partnership as well as engagement with Constance Lake First Nation.

The deposit is $1.4 million ton in size and its believed that close to 300 full-time jobs and numerous construction jobs would be created.

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