OAKVILLE – Baffinland Iron Mines Corp. has sought court protection from creditors as it weighs strategic alternatives.
The company, which produces iron-ore on northern Baffin Island in Nunavut, says the Ontario Superior Court of Justice has granted it an initial order to stay proceedings for 10 days, after which it could be extended.
Baffinland says the move allows it to maintain control and stabilize operations while it weighs a potential recapitalization, corporate sale or other measures.
It says it is also in discussions with potential lenders to provide debtor-in-possession financing.
The miner says it expects no disruptions at its Mary River or Milne Port operations and that its upcoming 2026 shipping season should go ahead as planned.
It also promised to honour agreements it has with the Qikiqtani Inuit Association.
This report by The Canadian Press was first published May 15, 2026.
