NORTH AMERICA’S PREMIER UNDEVELOPED HIGH-GRADE SALT PROJECT
With a focus on innovation and efficiency, Atlas Salt Inc. is poised to make significant contributions to the North American salt market. We speak to Nolan Peterson, CEO and Director, to learn more about the company’s endeavors
Writer: Lauren Kania
Project Manager: Scarlett Burke
As simple as it may seem, salt plays a crucial role in the everyday lives of people across the globe, boasting a magnitude of uses throughout history. With its strategic location, innovative design, and sustainable mining practices, Atlas Salt Inc. (Atlas
Salt) sits at the heart of the modern salt mining industry, upholding values of environmental stewardship and community engagement.
“Atlas Salt is developing the Great Atlantic Salt Project, an undeveloped, shallow, high-grade, homogenous, and thick salt (NaCl) deposit in
St. George’s, on the west coast of Newfoundland,” introduces Nolan Peterson, CEO and Director.
The company is targeting initial commercial production in 2030 and full production in 2032, where it will ship four million tons per annum of road de-icing salt destined for major
markets in Eastern Canada and the Northeastern US.
Salt mines differ from traditional metal mines in several key respects.
“In underground salt mines, the product is mined using continuous mining equipment and is typically crushed and screened underground
and shipped as-is. Metal mines usually require drilling and blasting, crushing and grinding, flotation or chemical leaching, and smelting and refining,” details Peterson.
Additionally, traditional metal mines require processing plants, reagent handling systems, and water treatment
plants, whereas salt mining has a lower environmental risk profile without chemical reagents or tailing dams.
“That is one of the main reasons the Great Atlantic Salt Project was released from its environmental assessment in less than two months,” Peterson expands.
Equally, salt mining is comparatively simpler than metal mining. Salt deposits are typically uniform and predictable, while metal deposits are geologically complex and variable. In salt mining, approximately 100 percent of the mined material is sellable, whereas in traditional metal mining, 90+ percent of the mined material becomes waste.
ROAD TO DISCOVERY
Peterson’s background in mining and minerals dates back to childhood. Having grown up in Nunavut in the Canadian Arctic in a small community called Cambridge Bay, he was exposed to mineral development projects looking to get started in the region and the economic benefits they could provide to communities from a young age.
HOW WILL THE GREAT ATLANTIC SALT PROJECT REALIZE YOUR VISION OF CREATING THE MOST TECHNOLOGICALLY ADVANCED UNDERGROUND SALT MINE IN NORTH AMERICA?
Nolan Peterson, CEO and Director: “We often refer to this project as being a state-of-the-art ‘salt factory’. Our deposit is unusually shallow, enabling the construction of inclined access ramps. This design reduces development time, lowers capital costs, and allows continuous movement of equipment and salt without shaft hoisting systems.
“Salt extraction will be done with continuous mining machines using a room-and-pillar method. These machines mechanically cut salt without blasting, improving safety and efficiency. All underground equipment is expected to be battery-electric, reducing diesel use, ventilation costs, and greenhouse gas emissions.
“Electrification and advanced equipment support cleaner operations, aligning with the goal of being one of the greenest mining operations in the world. The project plans to run entirely on clean electricity from Newfoundland’s hydroelectric grid, further supporting low emissions.
“A covered conveyor system will move crushed salt from the underground mine to port facilities, minimizing dust, truck traffic, and environmental disturbance. Integration with nearby deep-water ports and tailored logistics planning aims for efficient export to North American markets.”
“When I went to school at the University of British Columbia, I chose engineering because of the opportunity to advance these types of projects while working in an interesting field that would take me around the world,” he explains.
In his career, Peterson has had the opportunity to be involved in the construction of multiple major assets at a senior level. He also later acquired an MBA and Chartered Financial Analyst® (CFA®) qualification, giving him a strong financial background that enabled him to transition into the finance and executive management side of the mining industry.
Currently, Peterson finds the mining sector to be particularly exciting.
“Industry and investor sentiment seem to be at an all-time high, unsurprising given today’s commodity prices. My challenge –and opportunity – is educating the market on the fundamentals of the salt industry,” he insights.
“When the prices for other commodities inevitably pull back, salt
pricing will likely continue its historical trend, meaning rising at or above the inflation level.”
An interesting observation Peterson noticed when speaking with investors is that many are now overweight in gold and silver and looking to diversify, leading them to seek other minerals they may not have otherwise considered – including salt.
ONCE-IN-A-LIFETIME OPPORTUNITY
For Atlas Salt, there are two categories of competitors it differentiates itself from: foreign imports and North American domestic suppliers.
Foreign competitors stem primarily from Egypt and Chile and produce salt at a relatively low cost, but then must bear international shipping rates to bring their product to the North American market, which are rising due to instability in the Middle East.
“Due to our favorable geographic positioning on the coast and relatively low cost of mining, we can be competitive with foreign imports from an all-in cost perspective,” Peterson details.
“WE BELIEVE THE GREAT ATLANTIC SALT PROJECT WILL BE ONE OF THE GREENEST MINING OPERATIONS IN THE WORLD”
– NOLAN PETERSON, CEO AND DIRECTOR, ATLAS SALT INC.
“More importantly, we can reach major markets in just three days, whereas foreign imports can take two to three weeks.”
With respect to domestic competition, the Great Atlantic Salt Project will deliver salt at a significantly lower cost than any other existing North American salt mine. The project’s deposit is unconventionally shallow, allowing the salt to be mined using
conventional drift mining.
Equally, many of the company’s domestic competitors are located inland, or on the Great Lakes system for transportation, which adds additional costs compared with Atlas Salt’s ability to ship directly from its deep-water ocean port access.
Finally, the project is designed efficiently with environmental aspects at the forefront.
“At four million tons per annum, which is roughly 10 percent of the North American market, we are not looking to displace domestic production, and we believe that our production will easily be absorbed into the market,” asserts Peterson.
Looking at the Great Atlantic Salt Project more closely, it is located only three kilometers from an existing deep-water port and in close proximity to the Trans Canada Highway, and is well-placed to supply Eastern Canada and the Northeastern US with a stable, lowrisk source of de-icing salt.
The project incorporates forwardlooking design features aimed at efficiency and cost-effectiveness. Rather than traditional vertical shafts, the mine will use inclined ramp access, enabling easier movement of equipment and salt to the surface. The mine is designed around electric and battery-electric equipment, reducing reliance on
“THE GREAT ATLANTIC SALT PROJECT REPRESENTS A ONCE-IN-A-LIFETIME OPPORTUNITY TO CONTRIBUTE MEANINGFULLY TO THE CANADIAN ECONOMY, WHILE ADDING A SIGNIFICANT AMOUNT OF GOOD-PAYING JOBS FOR MULTIPLE GENERATIONS OF NEWFOUNDLANDERS AND LABRADORIANS”
– NOLAN PETERSON, CEO AND DIRECTOR, ATLAS SALT INC.
diesel and cutting ventilation needs.
Plans also include conveyor systems, from underground crushing through surface handling and to port transfer, streamlining logistics and minimizing environmental impact.
“We believe the Great Atlantic Salt Project will be one of the greenest mining operations in the world,” enthuses Peterson.
One independent study confirms the project will generate the
equivalent annual greenhouse gases of just four Newfoundland households, owing largely to electrification and efficient design.
A GREEN FUTURE
Environmental stewardship and community engagement are of the utmost importance to Atlas Salt, having been embedded in the company’s foundations since its inception.
Atlas Salt receives $1 million funding from the Atlantic Canada Opportunities Agency (ACOA)
Empowering Change, Electrifying Solutions
•
•
Provide
We aim to not just provide refurbished equipment, but also supply the right field services to ensure equipment is safely and properly installed, integrated and commissioned to meet the customer’s specific needs and ensure optimal performance.
www.ecotechnl.ca
Oil&Gas• Utilities•Mining• Government•Marine• Manufacturing
• Equipment Sales and Brokerage Services (new and used)
• Field Services (Commissioning, Testing, and Start-up)
• Electrical Equipment Installation and Maintenance
• Engineering Support and Design Services
• Project Management and Site Supervision
These values are central to how it operates and develops the flagship Great Atlantic Salt Project, making both pillars part of its corporate strategy rather than afterthoughts in planning and development.
“In our environmental, social, and governance (ESG) report, we
GREAT ATLANTIC SALT PROJECT –AT A GLANCE
• Large-scale global relevance
• Strategic location
• World-class resource de-risked project
• Compelling economics
• Substantial upside potential
explicitly highlighted environmental stewardship as one of our core sustainability priorities, showing our intent to operate responsibly and sustainably,” Peterson insights.
Atlas Salt sees itself as an active community member, always seeking engagement from the local community, including Indigenous groups. It hosts local meetings and provides presentations and updates aimed at open dialogue to address any concerns before they escalate.
“We support numerous community initiatives and pride ourselves on being one of the largest employers in the region for generations to come,” furthers Peterson.
As the company looks ahead toward future success, it recognizes that 2026 has already been a milestone year, commencing with site preparation activities in February.
Atlas Salt plans to continue its early works efforts throughout the spring and summer, alongside working
with Endeavour Financial to focus on securing project financing. The company has had several meetings with interested senior secured lenders during PDAC in Toronto, and is confident it will be in a good position to close on its project finance package by the end of 2026.
“The Great Atlantic Salt Project represents a once-in-a-lifetime opportunity to contribute meaningfully to the Canadian economy, while adding a significant amount of good-paying jobs for multiple generations of Newfoundlanders and Labradorians,” proudly concludes Peterson.
Tel: 709-275-2009 investors@atlassalt.com atlassalt.com
OTCQX:SALQF
