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Fortune Minerals Limited. T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. Fortune also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.


TSX:FT - Post by User

Post by Allmanon Mar 06, 2024 8:04am
143 Views
Post# 35917485

Critical Minerals Infrastructure Fund – 2023-24

Critical Minerals Infrastructure Fund – 2023-24If I had to guess, the next Canadian government funds for FT should be coming from the Critical Minerals Infrastructure Fund - and with any luck, this month. ...

  • This CFP is open to transportation and clean energy projects at both the Pre-construction (Stream 1) and Infrastructure Deployment (Stream 2) phases.
  • For Stream 1, this is a time-limited CFP. Applications will be accepted until February 29, 2024, and will then be assessed and ranked as a cohort, with those ranked highest prioritized for offers of funding
  • Stream 1: Pre-construction and project development

    This stream supports pre-construction activities necessary to advance clean energy and transportation infrastructure projects towards a shovel-ready state. Funding for this stream will be targeted to advance infrastructure-specific consultation and engagement with local stakeholders and Indigenous communities and organizations, energy modeling and feasibility studies, engineering, planning and design work, and climate change/environmental reviews or assessments. These activities will support regulatory and permitting decisions required prior to the procurement and construction stage.

    Funding timeline

    CMIF is looking for projects that will have a timely impact. Time-to-impact will be considered as part of the overall project assessment and the CMIF may prioritize projects that can begin executing activities and incurring related expenses in fiscal year 2024-25 (April 1 to March 31).

    All CMIF-funded projects must end no later than March 31, 2030. A project could be scoped to include a single phase of a larger, multi-phase infrastructure development initiative.

    Eligible projects

    The CMIF will offer contribution funding for clean energy and transportation infrastructure projects, focusing on the upstream, mining segment of critical minerals value chains.

    Clean energy infrastructure projects, under the program, are those that drive environmental performance while supporting critical minerals development by increasing access to, and integration of, renewable and non-emitting energy sources, as well as existing electrical grids.Footnote1 This includes:

    • Mine site infrastructure (e.g., grid connectivity, demonstration and deployment of renewable or alternative energy technologies, battery storage projects and electric vehicle charging stations for mining equipment)
    • projects with a regional impact on the development or expansion of critical mineral resource production. Regional impacts may include larger scale initiatives to provide renewable or alternative energy for mining activities at more than one mine site and local communities (e.g., hydroelectric projects)

    Transportation infrastructure projects under the program are those that directly enable the development or expansion of critical minerals resources, including roads, rail, and marine transportation infrastructure necessary to connect the mine to the mid-stream segments of value chains (e.g., to processing facilities or to transportation systems that allow access to global markets). This includes:

    • infrastructure that serves a single mine (e.g., an access road), and
    • regional infrastructure that serves a mine or mining area and other users (e.g., nearby communities)

    CMIF funded projects must be located entirely in Canada.
     

    Maximum funding amount

     

    The maximum funding available per project under this CFP is $50 million, unless the applicant is a provincial or territorial government, in which case the maximum is $100 million. Stream 1 projects requesting $10 million or less may be prioritized for funding to allow a diversity of projects to be funded.

    Maximum percentages

    For most contributions under the CMIF, the maximum contribution amount per project will be up to 50% of the project’s total eligible expenditures, with the following exceptions:

    • Arctic and Northern projects may have up to 75% of total eligible expenditures funded. These projects are those that are located in an Arctic or northern region as defined by the Arctic and Northern Policy Framework (includes Yukon; the Northwest Territories; Nunavut; the Nunavik Region of Quebec; and the Nunatsiavut region of Newfoundland and Labrador) and that are submitted by:
      • A public sector organization (e.g., provincial, territorial, or municipal government and their departments and agencies), an Indigenous community or government, or a not-for-profit organization, or
      • A for-profit private sector organization where one of the aforementioned public sector organizations would have ultimate ownership of the asset following completion of the project


    https://www.canada.ca/en/campaign/critical-minerals-in-canada/federal-support-for-critical-mineral-projects-and-value-chains/critical-minerals-infrastructure-fund1/critical-minerals-infrastructure-fund-contribution-funding/applicant-guide-cmif-2023-24-call-for-proposals.html#a2a

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