Baffinland Iron Mines seeks creditor protection as it weighs strategic alternatives
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $1.44 a week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $5.77 plus GST every four weeks. After 52 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
OAKVILLE – Baffinland Iron Mines Corp. has sought court protection from creditors as it weighs strategic alternatives.
The company, which produces iron-ore on northern Baffin Island in Nunavut, says the Ontario Superior Court of Justice has granted it an initial order to stay proceedings for 10 days, after which it could be extended.
Baffinland says the move allows it to maintain control and stabilize operations while it weighs a potential recapitalization, corporate sale or other measures.
It says it is also in discussions with potential lenders to provide debtor-in-possession financing.
The miner says it expects no disruptions at its Mary River or Milne Port operations and that its upcoming 2026 shipping season should go ahead as planned.
It also promised to honour agreements it has with the Qikiqtani Inuit Association.
This report by The Canadian Press was first published May 15, 2026.