Baffinland is $1B in debt, lacks liquidity to buy fuel for this season’s sealift
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Article Excerpt
BUSINESS MAY 20, 2026 – 3:11 PM EDT
Baffinland is $1B in debt, lacks liquidity to buy fuel for this season’s sealift
Mary River iron mine might have to cease operations, company says in court filings
Baffinland Iron Mines Corp. is more than $1 billion in debt, court documents say. (File photo)
By Arty Sarkisian - Local Journalism Initiative Reporter
Baffinland Iron Mines Corp. spent more than $1.46 billion on a proposed expansion that was ultimately rejected by the federal government, and these expenditures led to the company seeking creditor protection.
Now, the company owes $1.07 bil…
Read full article at Nunatsiaq News ↗
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