September 01, 2024

Tacora Resources Inc.’s CCAA restructuring

Goodmans LLP acted as counsel to Cargill, Incorporated and Cargill International Trading Pte Ltd. (collectively “Cargill”), in connection with the restructuring proceedings of Tacora Resources Inc.

The successful restructuring transaction resulted in Tacora emerging from CCAA proceedings with new capital, funded in part by Cargill, to execute its long-term plan and a significantly deleveraged balance sheet, and with suppliers, customers and employees being assumed and unaffected as part of the transaction.

Tacora Resources Inc. is a Canadian iron ore mining and development company focused on the acquisition and revitalization of iron ore assets. Tacora’s mining and processing facility, Scully Mine, is located in Wabush, Newfoundland. Tacora provides high-grade and high-quality iron ore products to customers throughout Europe, the Middle East, and Asia.

Cargill Incorporated, a lead investor in Tacora, is a U.S. company with global operations and its metals business headquartered in Singapore.

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