Sudbury

First Nickel going into receivership: Sudbury mine hangs in balance

The company that owns Lockerby Mine in Sudbury is going into receivership.

First Nickel workers to be updated on receivership status today

First Nickel's president says the corporation's principal lender has demanded full repayment of what the company owes. Pictured here is First Nickel's Lockerby Mine in Sudbury, Ont. (CBC)

The company that owns Lockerby Mine in Sudbury is going into receivership.

The president of the union for workers at Lockerby says the news was first sent to her around 5 a.m. on Thursday.

Unifor's Anne Marie MacInnes says meetings for workers will take place this afternoon at the Fairfield Inn and Suites at 1 p.m., 2:30 p.m. and 4 p.m.

First Nickel's President and CEO had announced in June that the mine was going to maximize production of the remaining ore.

It would then transition to care and maintenance or closure.

However, the company's lender has now seized their assets.

First Nickel president Thomas Boehlert said the corporation's principal lender has demanded full repayment of what the company owes.

The lender, Resource Capital Fund is seeking the appointment of a receiver.

That hearing is being heard today in Toronto.