NORTHWEST TERRITORIES – Fortune Minerals of London, Ont., is following closely the government decisions that are moving the Tlicho all-season road to the community of Whati toward construction. Fortune has received approval to build a spur road from Whati to its NICO gold-cobalt-bismuth-copper project.
Aerial view of the NICO site during test mining. (Credit: Fortune Minerals)
The NWT government has declared the road a priority for the next Legislative Assembly. This road will be a P3 (private-public-partnership) to design, build, finance, operate, and maintain the route. The government has selected three large Canadian and international firms to advance to the request for proposal stage, subject to the progress of the environmental assessment.
Earlier this year the NWT and Tlicho governments said the federal portion of the funding would provisionally be 25%. The remaining 75% will be funded by the winning consortium. That investment will be repaid with interest over the life of the contract.
Fortune is planning to build a mine and concentrator at the NICO site 160 km northwest of Yellowknife. The refinery will then be built in Saskatchewan to upgrade the concentrates. The proposed output will be sold to the battery industry.
Learn more at www.FortuneMinerals.com.