ELLIOT LAKE HISTORY
More than 300 million pounds of uranium oxide were mined from conglomerate beds near Elliot Lake by Rio Algom and Denison Mines from 1956 to 1996, earning the camp the title “the Uranium Capital of the World”. Elliot Lake was also the first and only Canadian mining camp to have ever achieved successful commercial production of rare earths as a by-product of uranium production. As an established, proven mining camp with well-understood geology, excellent regional infrastructure, and strong local support, Eco Ridge is an ideal location for a safe, secure, and reliable long-term supply of uranium and rare earths.
Following local uranium discoveries, the city of Elliot Lake was rapidly constructed as a regional mining support center in the early 1950s. The new boom town quickly reached its peak in 1960 with 25,000 people supporting 11 active uranium mines. However, after the U.S. Atomic Energy Commission declined to renew its foreign contracts for uranium, the boom soon turned to bust and, by 1966, the population was reduced to less than 7,000. A second boom ensued through the 1970s, driven by civil energy demand rather than nuclear weaponry, bringing the city back to 20,000 residents around 1980. Although the 1980s brought uranium discoveries of much higher grade in Saskatchewan and Australia, mining persisted in the Elliot Lake camp until the closure of the Stanleigh Mine in 1996.
Today, Pele is leading the next generation of responsible mineral and energy development in Elliot Lake. Pele is leveraging sustainable technologies to pursue opportunities in renewable energy production and energy storage, along with the creation of a Rare Earth Processing Centre and, for the longer term, development of its large uranium and rare earth mineral resources at Eco Ridge.