TCL Asset Group to manage sale of assets from Quebec mine site

Resource from: https://www.mromagazine.com 26 Jun,2025

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TCL Asset Group Inc. has been awarded the contract to manage the sale of surplus assets from Stornoway Diamonds (Canada) Inc.’s Renard Diamond Mine Site.

The site is located approximately 800 km north of Montreal, Quebec in the James Bay region. The Renard Mine is one of only five diamond mines in Canada, and the only diamond mine in the Province of Quebec. In 2023, Deloitte Restructuring Inc. was appointed by the Superior Court of Québec as monitor in the CCAA proceedings of Stornoway. The mine was placed in care and maintenance in March 2025.

TCL says it will be conducting a Liquidation of the Diamond Recovery Facility and Tomra Sorting System over the course of the next six months through Private Negotiated Sales. Concurrently, TCL will hold an online auction scheduled for August/September 2025. Assets available during the online auction include rolling stock, underground substations, switch gear, pumping stations, FAR surface infrastructure, mine hoists, inventory of wire and cable and related underground machinery and equipment.

“This sale is a highly significant event for the underground mining industry, particularly for those involved in the diamond recovery process, as assets related to this final stage of production rarely become available on the open market,” Terrance Jacobs, CEO of TCL Asset Group Inc. “We are excited to be working with the Stornoway and Deloitte teams on this unique sales initiative.”

(https://www.mromagazine.com)
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