The Mayor of Goderich read a prepared statement at last night's Goderich council meeting explaining Compass Mineral's withdrawal from the Goderich Harbour Expansion project.
Kevin Morrison expressed disappointment in the decision by Compass but also emphasized the opportunity it creates for new partners and new ideas for the expanded harbour. Morrison added they'll be meeting shortly with the Goderich Port Authority on how to proceed with Phase 2 of the project which is still expected to get underway this summer.
Morrison points out they have met with the Ministry of Transportation to confirm their funding is still in place.
Phase 2 will cost about $17 million and they have close to that with the MTO funding and the trust account from the users of the Port.
C-A-O Larry McCabe also confirmed that under the circumstances Compass had the legal right to pull out of the project.
Yesterday, officials from Compass Minerals said the original quote for the company's share of the project was $18.9 million but the final price came in at $26.4 million and that was too high.
