Tacora Resources Inc. (“the company”) is an iron ore mining and mineral processing company focused on acquisition, development, and operation of iron ore reserves and assets which allow for the sale of high-grade iron ore products throughout the world. The company is privately owned by a collection of world-class mining investors.  

The company owns and operates the Scully mine and processing facility located in Wabush, NL.  In July 2017, Tacora purchased the Scully Mine, with a 6 million tonne per year iron ore concentrate capacity. During the course of the 2019 fiscal year, mining operations and commercial production were restarted. 

The Scully Mine consists of open pit mines, a concentrator and support processing facilities, waste rock and tailings management facilities and a spur railway line. The mine pits are located west of the Town of Wabush and south of the Town of Labrador City and are accessed via the plant access road off Hwy 530. The ore deposit covers an area of approximately 23 square kilometers. 

Scully mine produces product with a concentrate grade at 65.9% Fe, a level that exceeds the specifications of both the industry’s standard 62% benchmark as well as the industry’s high grade 65% benchmark, with respect to both grade and quality.  

Our five core values of Teamwork, Safety, Determination, Sustainability and Respect provide a framework for building and sustaining a high performance, high engaged team that prioritizes personal and workplace safety. Besides these pinnacles of our operations, we also believe in sustainable practices, lessening our environmental impact, transparency, and a deep bond with communities wherein we operate.  

Safety – We are SAFE: We prioritize the personal safety of our employees. We empower our employees to take safe work practices into their own hands and urge them to stop any unsafe act or operation quickly. The duty each employee has regarding safety is a deep-rooted value that everyone at Tacora uses, on or off our mine sites. Our mission is that everyone goes home safe, every day. 

Sustainability – We are SUSTAINABLE: We are focused on keeping positive relations with our neighbours, thorough ecological stewardship, environmentally responsible mining of the lands where we operate, and honest communications with all area stakeholders. We follow recognized
standards and best practices in tailings management, water stewardship, and biodiversity protection. Land disturbance is carefully managed to support ecosystem restoration and sustainable post-mining land uses. We see these duties as critical, and these values are embraced and enforced by our leadership. 

Teamwork – We are a TEAM: We mandate a flat, team-based organization that empowers our team members to take initiative as problem solvers and make decisions. Our ‘One Team’ mindset eliminates silo mentality where everyone is equal and strongly focused on achieving our health, safety, environmental, and production goals. 

Determination – We are DETERMINED: We are passionate and excited about the future of iron ore. We are focused on our goal of producing Tacora Premium Concentrate for our customers and achieving nameplate capacity annually. We are determined to build the best mining company in the world where all our employees know they are valued and treated with the upmost respect and appreciation. 

Respect – We RESPECT one another: We are committed to fostering a workplace where respect is fundamental to every interaction. We pledge to value each individual’s contributions, honor diverse perspectives, and respect every person’s background and culture. By maintaining open, honest communication and embracing our differences, we will drive a collaborative and inclusive environment where every team member feels valued and empowered to reach their fullest potential. 

TSM Performance Assessment:  

In 2025, Tacora Resources, Scully Mine underwent external verification for the first time.    

Tacora’s overall audit results for 2025 were positive, and the company has a clear direction for performance growth across many of the TSM Protocols. Tacora has been developing and revisiting improvement plans for all protocols in which a Level C or Level B since 2024.  The level of improvement demonstrate a commitment to improving their sustainability and social performance through short term and long- term goal setting.  

TSM’s performance protocols core areas of Communities and People, Environmental Stewardship and Energy Efficiency align with Tacora’s core values and are an integral part of shaping the company’s vision as they work to meet their sustainability goals in the years to come. 

Discover how Tacora Resources integrates environmental stewardship, community engagement, and responsible governance into its operations. Our Sustainability Report highlights initiatives in in alignment with TSM public reporting protocols. 

Visit Tacora’s Sustainability Report to learn more about our progress and goals.