Fortune Minerals contributes to NICO Project FEED study with Natural Resources Canada
What happened
Fortune Minerals Limited is providing an update on the NICO cobalt-gold-bismuth-copper project Feasibility Study, which is nearing completion. Natural Resources Canada is contributing to the cost of the Front-End Engineering and Design (FEED) study and product sensitivities through the Global Partnership Initiative. The project involves a planned open pit and underground mine and concentrator in the Northwest Territories and a dedicated hydrometallurgical facility in Alberta.
Why it matters
The study is currently focused on optimizing capital and operating costs and including a circuit to recover more gold and a lower cost cobalt product. This work provides detailed engineering information for procurement for the NICO Project, which aims to produce value-added products for the energy transition and defense.
Who's involved
- Natural Resources CanadaContributing to the cost of the FEED study and product sensitivities for the NICO Project.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- How could Fortune Minerals' contribution to the FEED study affect the Government of Canada?Federal support for NICO project signals commitment to domestic critical mineral supplyLikely
- Major projects office may coordinate large NICO resource developmentMajor projects office may coordinate large NICO resource developmentPossible
- NICO project may bring economic development to Northwest TerritoriesNICO project development may bring significant economic and infrastructure changes to Northwest TerritoriesPossible
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The entities involved
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Natural Resources Canada
Canadian government department responsible for natural resources, energy, minerals and metals, forests, earth sciences, mapping and remote sensing
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