Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeMiningNew Brunswick mining 'reinvigorated' as industry interest growsMajor mining operations slowed 13 years ago, but interest in the area continues from companies such as Magna TerraLast updated Jun 22, 2026 You can save this article by registering for free here. Or sign-in if you have an account.A Magna Terra Minerals Inc. crew member during exploration work completed last summer on the company's greater Rocky Brook Project in the Bathurst Mining Camp in New Brunswick. Photo by SUBMITTED/PostmediaA Canadian mining company is exploring a large area on New Brunswick’s northeast coast after using artificial intelligence to prospect digital records, looking for new deposits. Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Accountor“We mine the government and public databases to look to compile data to find opportunities that others have overlooked,” said Lew Lawrick, president and CEO of Toronto-based Magna Terra Minerals Inc. “We really focused on the Bathurst Mining Camp, specifically the Rocky Brook, about a year-and-a-half ago.” SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againThe Bathurst Mining Camp, located about 20 kilometres southwest of the city, is a mining district where deposits of lead, zinc, copper, gold and silver have all been found.Major mining operations slowed 13 years ago, but interest in the area continues from companies such as Magna Terra. In May, the firm announced it was expanding exploration at its Rocky Brook project within the camp, adding 5,770 hectares to an initiative that now totals 36,533 hectares. “Our belief has always been by looking at the data that there are other opportunities in the camp,” Lawrick said. “We believe there are other deposits there to be found, and that’s what we do best. We are explorers.” He noted that interest was piqued following a gold discovery in the area in 2021. Prior to that, the area was not known for precious metals. “That’s really changed the dynamic of the camp,” he said. A second project that’s contributing to the optimism about the area is Canadian Copper Inc.’s Murray Brook deposit and the Caribou Processing Complex. What makes it interesting, Lawrick explained, is that his company will be able to use Caribou’s infrastructure to mill the ore from Murray Brook. According to Canadian Copper, the facility can process 3,000 tonnes per day and includes established crushing, grinding and flotation infrastructure, supported by grid power and water supply. “It’s reinvigorated the whole camp, and we’re not the only party that sees the opportunity that these two parallel developments have triggered,” he said. Lawrick said numerous other companies are exploring within the Bathurst camp, which he feels is “really ripe for consolidation. “There is an opportunity for some of these smaller companies to come together and do something with a little more scale which I think will happen,” he said. David Lentz, University of New Brunswick professor and chair of economic geology, said the Bathurst camp was one of the premier mining sites in the world prior to 2013. In that year, the Brunswick No. 12 Mine closed after 49 years in operation, according to a Geoscience Canada article on the great mines of Canada. The 2019 article says that two of the 45 known massive sulphide deposits at the site were mined between 1957 and 2013.One of the earliest discoveries was the Iron Formation at Austin Brook. Lentz said the site, just north of the Nepisiguit River, was found in the late 1800s and was later mined for iron during the world wars.Follow-up research by University of New Brunswick student Ben Baldwin found brown-black sphalerite at the base of the Iron Formation.“This led to exploration for zinc along the belt that led to discovery of the large Brunswick No. 6 in late November 1952, then the huge Brunswick No. 12 Zn-Pb-Cu-Ag deposit,” said Lentz. “They both finally were delineated and mining started in 1964.”A “Zn-Pb-Cu-Ag” deposit is a mineral deposit containing economically significant amounts of zinc, lead, copper and silver.He noted that the Murray Brook site within the camp has significant lead, zinc, and copper deposits. “There is a lot of interest in copper,” he said, noting the metal is used in AI infrastructure. According to an article in The Canadian Mining Journal, “no metal stands to benefit more directly from AI-linked infrastructure than copper.” The article states that AI data centres are essentially copper frameworks. With copper recently trading near record highs, Lentz said there are other benefits to investing in mining. He said metals are traded internationally and not as vulnerable to trade politics. “Natural resources are not just forestry and agriculture; it’s also minerals and mineral development like we had back 12, 13, or 14 years ago,” he said. “Mineral development is (worth) hundreds of millions of dollars in the province, but it used to be way higher than that where it was about seven or eight per cent of our gross domestic product.“It can be there again.” In a statement sent to Financial Post earlier this month, Natural Resources Minister John Herron said New Brunswick’s mining sector will play an important role in supporting jobs, economic growth and regional development. He said the recently launched Comprehensive Minerals Strategy will help identify and support opportunities for responsible mineral development, attract investment and strengthen the sector’s contribution to the province’s economy. Lentz said Herron’s support is resonating with investors. “Everybody is pulling in the same direction,” he said. While companies like Magna Terra don’t build mining infrastructure, Lawrick said conditions for developers are moving in the right direction in New Brunswick. Looking back on this year’s Prospectors & Developers Association of Canada convention in Toronto, Lawrick said Premier Susan Holt’s speech was “one of the most robust and positive speeches” in support of the industry. He said interest from the federal and provincial government has created confidence.“We now see collective support coming from both levels of government, which hasn’t necessarily always been there, so it is very encouraging,” he said. “I deal every day with offshore investors calling and over the last two years I’ve had more incoming calls from offshore investors looking to invest in our projects in Canada than I’ve had in the previous eight,” he said. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.