Bearpaw Formation in Alberta. Image from KORITE.
When Alberta-based Buffalo Rock Mining acquired Calgary-headquartered KORITE, North America’s largest producer of ammolite, it flew right under the mining industry’s radar, even as the company’s creations were featured in the New York Times.
The acquisition, say Indigenous owners Tracy and Beth Day Chief of the Kainai Nation, reflects a revitalized vision for the company, in committment to ethical and sustainable mining. The value of the transaction was not disclosed, and privately-held Buffalo Rock Mining does not disclose mineral resource information.
Ammonite extraction is one of the rarest and most delicate mining processes in the world, and KORITE established itself as the leading global producer, controlling 95% of the world’s known ammonite reserves, and selling mainly into European and Asian markets.
Ammolites are rare, rainbow…
