Last year, the CRA slapped the company with a fine and ordered the miner to pay more than $200 million in back taxes, but the firm objected the decision.
The indefinite suspension of the Picadilly mine, in Canada's New Brunswick, is expected to cut the company's capital costs by $50 million in 2016 and $135 million over the next two years.
The Canadian deep sea miner has signed agreements with United Engineering Services LLC to provide support services associated with wet testing the company’s production and storing equipments.