Panoramic Images via Getty Images Sunrise over the Circle Cliffs near Long Canyon Overlook, Grand Staircase-Escalante National Monument. The Colt Mesa deposit, discovered in 1969, is located in the Circle Cliffs area, approximately 35 miles southeast of Boulder, Utah.

A Canadian mining company has ditched its plans to extract copper, cobalt and other minerals from approximately 200 acres of land that the Trump administration carved out of the boundary protecting Utah’s Grand Staircase-Escalante National Monument.

Glacier Lake Resources Inc., a Vancouver-based copper and silver mining firm, announced in June that it had entered into an agreement to acquire the Colt Mesa deposit, as HuffPost first reported. The former mine site was part of the federally-protected site and off-limits to mining and other development until late last year when President Donald Trumpdismantled a pair of national monuments in southern Utah.

The company’s president and CEO, Saf Dhillon, told HuffPost in an email Thursday that Glacier Lake “dropped that project a while back.”

“We have nothing to do with anything at Colt Mesa,” he wrote. “We decided to not proceed forward.”

Dhillon did not respond to HuffPost’s question about when and why Glacier Lake decided to abandon the project. The company has also canceled its flagship Silver Vista mining project in British Columbia, Canada, he said.

“There are some changes happening, and there will be updates as they occur,” he wrote.

The company appears to be in serious financial trouble. Its March 2018 shareholders report says the firm “has accumulated a deficit of $4,779,688 and has not generated any revenue since inception, and expects to incur further losses in the development of its business,” as The Washington Post reported this month.

Details about all of Glacier Lake’s projects were scrubbed from the company’s website sometime between August and December, according to the Internet Archive, a digital archive of web pages. Colt Mesa was Glacier Lake‘s first planned project in the United States.