Post by
Tuckerthefox on Oct 11, 2022 2:18pm
From Troy at FT
In response to why Electra seem to be moving forward with Government etc.. What have you done? We have a long history of working with government and are engaged with various levels of government in Canada, the US and EU with respect to support for NICO's development. Attached are a few of the news releases that reference some of the recent work (excerpts pasted below). Also recall that we worked with governments and First Nations for the development of the $200 million Tlicho Highway that enables the NICO Project. Significant developments this year: The recently passed US Inflation Reduction Act (IRA) requires Critical Minerals used in EV batteries to be from North America or countries with free trade agreement with U.S. to qualify for U.S.$7,500 rebate. Around the same time, the US Emergency Supplemental Funding for Ukraine was announced and included $500M for Defense Production Act (DPA) Title III funding to expand domestic capacity and production of Critical Minerals. Canada is considered a Domestic Source for DPA Title III funding. In Canada, C$3.8 billion support for Critical Minerals development was announced in the 2022 budget. Since then, the government has been consulting with industry by way of feedback on a discussion paper and will publish their final strategy this Fall. Excerpts from news releases: "Fortune is encouraged that the 2022 Budget allocates significant funding to align with government policy objectives to grow the domestic Critical Minerals supply chain. The Company is currently engaged with the Canadian and Alberta governments to secure their support for an accelerated development of the NICO Project. Fortune was recently invited by Invest In Canada to present at an investment conference in Dubai that included a pre-recorded introduction to the NICO Project (access video here.)." "Fortune is also pleased to report that it was one of the recipients of additional Mining Incentive Program grants to advanced exploration projects from the Government of the NWT and the Canadian Northern Economic Development Agency (CanNor). An additional $100,000 grant was awarded to Fortune, which together with the previous grant of C$140,000, are being applied to the NICO Project drill program. The vast majority of these funds are being used to contract work and services from Yellowknife and Behchoko-based businesses and personnel." "The Company is also working with Canadian government departments, several Provinces as well as the U.S. and E.U. for their support of a new reliable Canadian producer of Critical Minerals with supply chain transparency of metals from ore through to the production of value-added products." "Cobalt, lithium and nickel are all minerals with huge demand in the modern world. Fortunes new refinery is exactly the type of job creating, diversifying investment we envisioned with our mineral strategy and action plan. Jason Kenney, Premier of Alberta Fortune Minerals new facility will add to Albertas mineral refining capacity and will bring exciting economic opportunities to the province. Albertas mineral strategy and action plan capitalizes on our untapped potential and helps meet demand for the critical and rare earth minerals which are essential to supporting a low-carbon economy. Fortune Minerals investment announcement demonstrates that our strategy is working. Our province has the experienced workforce, and the necessary infrastructure to support continued growth in the minerals sector, and there is no better place for a new Critical Minerals refinery than Albertas Industrial Heartland. Sonya Savage, Minister of Energy, Government of Alberta I am pleased to see continued investment and diversification in the Industrial Heartland with Fortune Minerals plan to establish a new cobalt refinery which will also have the future potential to recycle metals from post-consumer batteries from across Alberta. This project will create well-paid jobs for Albertans and continued prosperity for my constituency. Jackie Armstrong-Homeniuk, MLA for Fort Saskatchewan-Vegreville The planned NICO Project in Albertas Industrial Heartland supports our regions robust diversification efforts and highlights our value proposition for companies looking to execute their capital growth strategies, develop new technologies and advance their ESG priorities.Fortune Minerals innovative vision and metallurgical process technology for the NICO Refinery will promote further energy supply chain integration within North America, solidifying Alberta and Albertas Industrial Heartland as a critical jurisdiction for Canadas energy future. Mark Plamondon, Executive Director of Albertas Industrial Heartland Association More economic growth and diversification in Albertas energy and tech sectors shows our competitive edge in action. This includes access to highly skilled labour, resources, and transportation links from Albertas globally recognized Industrial Heartland and combined with our business-friendly environment thanks to the Alberta tax advantage and a streamlined regulatory framework. Rick Christiaanse, CEO of Invest Alberta Corporation
Comment by
Yellowknifer69 on Oct 11, 2022 2:56pm
Thanks TTF: Seems like a fairly boiler plate response to me! LoL Troy should have a just put this out as a News Release probably would have had the same effect as all the others. Yellowknifer
Comment by
Lotten on Oct 11, 2022 3:21pm
Nice one Tuckerthefox. Thank you for sharing. :-)