The company\u2019s financial problems came to light<\/a> last week..<\/p>\n The troubles in part due to the $1.46 billion the company spent on its proposed Milne Inlet railway expansion that was ultimately rejected by the federal government. Between 2017 and 2022, Baffinland \u201centered into significant contracts\u201d in anticipation of approval, according to documents filed in Ontario Superior Court of Justice.<\/p>\n As a result, Baffinland says it lacks the means to buy fuel before this year\u2019s sealift shipping window closes, which may force the mine to \u201ccease operations entirely,\u201d court documents say.<\/p>\n Despite that, Baffinland expects no operational disruptions to the mine and day-to-day decisions are still being made by executives, \u201csubject to court oversight,\u201d said Peter Akman, the company\u2019s spokesperson, Wednesday in an email to Nunatsiaq News.<\/p>\n Naqitarvik was the spokesperson for the Nuluujaat Land Guardians, a group of seven Inuit who, in 2021, blocked<\/a> access to the mine for a weeklong protest of Baffinland\u2019s proposed expansion<\/a>.<\/p>\n For years, people in communities near the mine have said increased industrial activity in the area is driving away<\/a> the animals they rely on for sustenance. These concerns are what ultimately led the federal government to reject<\/a> Baffinland\u2019s proposed expansion for Milne Inlet in 2022.<\/p>\n Naqitarvik said the locals observed the company expanding its infrastructure before it got the necessary approvals.<\/p>\n Over at the NWT and Nunavut Chamber of Mines, acting executive director Hudson Lester declined to comment on the company\u2019s billion-dollar investment in its unapproved Milne Inlet project, saying he didn\u2019t have the technical background to do so.<\/p>\n But he did say it was concerning to see the company seek creditor protection.<\/p>\n \u201cYou never want to see a company go through this, especially one that employs so many Inuit workers and contractors,\u201d he said.<\/p>\n Baffinland is Nunavut\u2019s largest private sector employer with 1,200 people on its payroll, including approximately 300 Inuit employees, according to court documents, and mining makes up almost half of Nunavut\u2019s gross domestic product.<\/p>\n If the mine were to close, it would have an impact on the territory\u2019s workforce and GDP, Lester said.<\/p>\n The Qikiqtani Inuit Association would also take a \u201chit\u201d if the mine closes, Lester said.<\/p>\n Mary River mine sits on Inuit Owned Land and Baffinland pays $1.25 million in quarterly royalties to the Inuit association for the right to mine there.<\/p>\n Representatives from the Qikiqtani Inuit Association didn\u2019t respond to a request for comment on Thursday.<\/p>\n![\"\"\/](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/05\/260522.100.95.png\" "\\"\\"")
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