--- title: "Breakwater Resources and the Myra Falls mine" language: en canonical: https://dossiertwist.com/dossiers/trafigura/myra-falls/ as_of: 2026-10-16 keywords: ["Trafigura Pte Ltd","TPTE","UEN 199601595D","Trafigura Group Pte. Ltd.","Trafigura Beheer B.V.","Farringford Foundation","Trafigura Control Holdings","TPTE Holding Limited","Trafigura Funding S.A.","Trafigura Nat Gas Limited","SK.2023.49","Sonangol Distribuidora","Petrobras","CFTC","Prateek Gupta","Trafigura v Gupta","Lex Oil","Mongolia","Myra Falls","Volare Shipping"] --- # Breakwater Resources and the Myra Falls mine **Question.** What happened to Trafigura Pte Ltd's Canadian mining companies? **Answer.** Breakwater Resources Ltd, wholly owned by TPTE, owns Myra Falls Mine Ltd., whose zinc and copper mine on Vancouver Island stopped in 2023. On 18 December 2023 the Supreme Court of British Columbia granted Myra Falls creditor protection under the CCAA, with Trafigura US Inc. as interim lender; the company, financed only by the group since 2019, had liabilities of about $326 million against assets of about $214 million. In 2020 Breakwater pleaded guilty to a Fisheries Act offence over a 2018 spill at the Langlois mine in Quebec and was fined $350,000. ## Ownership of the mines - Analysis: Breakwater Resources Ltd, a Vancouver mining company formed in its present form in 2011 by amalgamation with Nyrstar Canada Resources, is wholly owned by TPTE and owns Myra Falls Mine Ltd. The Myra Falls mine on Vancouver Island operated from 1966 to 2023 and is in care and maintenance. Its general manager told the court that TPTE became the indirect majority shareholder of Nyrstar, the mine's owner, in 2019. [s-d16] [s-d133] [s-d135] [s-d110] ## Creditor protection - Analysis: On 18 December 2023 Myra Falls Mine Ltd. obtained an initial order under the Companies' Creditors Arrangement Act, staying proceedings against it, and Trafigura US Inc. agreed to lend up to $21 million as interim lender. The general manager described the group as its only source of financing since 2019, with more than $100 million of shareholder loans; Breakwater was also its lender, and Trafigura Canada bought its concentrate under offtake contracts. In February 2024 the company asked for the stay to be extended and for approval of a sale process. [s-d110] - Outcome: The record does not show the outcome of the requested stay extension or of the sale and investment solicitation process. ## Fisheries Act conviction - Analysis: Canada's environmental offenders register records that on 19 October 2020 Breakwater Resources pleaded guilty before the Court of Quebec to discharging an acutely lethal effluent into the Wedding River after a flocculant spill at the Langlois mine on 28 February 2018, and was fined $350,000 for the Environmental Damages Fund. [s-d174] [s-d64] - Qualification: The offence took place in February 2018, while the mine belonged to the Nyrstar group; the record shows TPTE becoming Nyrstar's indirect majority shareholder in 2019, and the group's 2023 prospectus says the Myra Falls and Langlois mines were transferred from Nyrstar to Trafigura's mining group in October 2020. ## Sources - [s-d16] Company statement source · s-d16 - [s-d133] Company statement source · s-d133 - [s-d135] Amalgamation notice: Trafigura Canada Limited, BC Registries and Online Services (British Columbia Gazette publications), 2025 - [s-d110] Court record source · s-d110 - [s-d174] Environmental offenders register record: Breakwater Resources Ltd. (Fisheries Act), Environment and Climate Change Canada, 2020-10-19 - [s-d64] Company statement source · s-d64