GOLD-COBALT: Fortune’s hydromet plant gets environmental okay

SASKATCHEWAN – Fortune Minerals of London, ON, has received environmental approval for its Saskatchewan metals processing plant (SMPP), the hydrometallurgical facility that will refine concentrates from the NICO gold-cobalt-bismuth-copper mine and mill in the Northwest Territories. The SMPP is to be located near Saskatoon. The Province of Saskatchewan approved the plant subject to certain conditions.

Fortune says the conditions attached to the approval include creating an independent community-based monitoring program, submission of annual monitoring reports to Saskatchewan Environment, effective dust control, and additional analysis of the process residue that will be stored at the site.

The SMPP has a capital cost estimated to be in excess of $200 million. The plant could bring 200 jobs during construction, create approximately 100 long term direct jobs for the region, and produce new business opportunities to support the facility.

The SMPP is designed with an average annual output of 40,500 oz of gold, 1,600 tonnes of cobalt (in various compounds), 1,700 tonnes of bismuth, and 250 tonnes of copper.

Current information about the proposed project can be found in the media backgrounder entitled "Saskatchewan Metals Processing Plant." Click here to read.