A Canadian mineral exploration company plans to buy and mine property in northern Maine near the new national monument.
Wolfden Resources Corporation of Thunder Bay, Ontario, signed a purchase and sales agreement dated Sept. 6 with a third party to pay $8.5 million for all of the property in Pickett Mountain in northern Penobscot County.
Donald Hoy, president and CEO of Wolfden Resources, told the Bangor Daily News that some “fundamental issues” about the purchase need to be worked out before he could comment further about the proposed mining operation and how the company is financing it.
The area has a large amount of undeveloped and potentially valuable sulfide minerals such as copper, silver and zinc, Wolfden said in a written statement.
Environmentalists have expressed concern about development around pristine areas like the Katahdin Woods and Waters National Monument and Baxter State Park, but the man behind the new monument said having such industrial activity was in his plan.
The County is pleased to feature content from our sister company, Bangor Daily News. To read the rest of “Canadian company wants to mine land near Maine’s national monument,” an article by contributing Bangor Daily News staff writer Lori Valigra , please follow this link to the BDN online.
