News that an unnamed company wants to buy a major stake in the Donkin coal mine is generating a lot of excitement in Cape Breton.

If Donkin reopens, it could create 300 jobs and produce close to 3 million tonnes of coking and thermal coal per year.

This would be a big boost for the local economy.

“The news means a lot to Cape Bretoners who are currently working out west. It’s a great opportunity for Cape Bretoners to come back home,” said Kevin Saccary, the District 8 councillor for the Cape Breton Regional Municipality.

The Sydney and Area Chamber of Commerce thinks Donkin would create many spinoffs for the rail line and port development.

“We need more of these major projects to take place to help revive our economy and help stop outmigration of our peoples (sic),” said CEO Adrian White,

“This is great news all the away around.”

However, it would likely be several years before Donkin could reach full production.

“For production to begin, water must be pumped out of the mine and infrastructure has to be built on the site,” said a news release from the province. “The government needs to carry out a due diligence process, before work can begin, to ensure the new owner has a sound plan that emphasizes worker safety, the technical ability to operate a mine of this scale, and adequate financing to develop the project.”

Coal has been mined in the Donkin region since the early 1860s.

If Morien Resources does not buy out Glencore in 60 days, the unknown third party can go ahead and sign a deal.