First Nickel going into receivership: Sudbury mine hangs in balance

The company that ownsLockerbyMine in Sudbury is goinginto receivership.

The president of the union for workers atLockerbysays the news was first sent to her around 5 a.m. on Thursday.

Unifor'sAnne MarieMacInnessays meetings for workers will take placethis afternoon at the Fairfield Inn and Suites at 1 p.m., 2:30 p.m. and 4 p.m.

First Nickel's President andCEOhad announced in June that the mine was going to maximize production of the remaining ore.

It would then transition to care and maintenance or closure.

However, the company's lender has now seized their assets.

First NickelpresidentThomasBoehlertsaidthe corporation's principal lender has demanded full repayment of what the company owes.

The lender, Resource Capital Fund is seeking the appointment of a receiver.

That hearing is being heard today in Toronto.