Come By Chance refinery not for sale: natural resources minister

North Atlantic Refining Limited is not taking offers on the Come By Chance refinery, according to Natural Resources Minister Siobhan Coady.

Despite a report by Reuters news agency last week, Coady told the House of Assembly on Wednesday that North Atlantic representatives told her the refinery was not for sale.

"They are a private company, Mr. Speaker, and I'm sure at some point that they may consider that," she said in question period. "But at this point in time they've advised me they are not."

On March 21, Reuters reported that Silverpeak Finanical, the owners of NARL, were looking to unload the plant.

• Come by Chance refinery up for sale, says business report

The news agency reported that talks were only preliminary, but said the owners of the Come By Chance facility were not making money.

About 80 refinery workers were laid off in March, following weeks ofnegotiations betweenmanagement and the union.

At the time, company representatives told reporters the Come ByChance operation was barely making moneyand had higher costs than its competitors.