Continued good press visibility for Fortune ...
The three companies seeking to develop advanced exploration projects in Northwest Territories to mines want to tap into C$3.8 billion the Canadian government earmarked in its 2022 budget to spur the development of the country's critical minerals industry.
In December 2022, the government released a strategy with broad goals for how that money will be spent.
One of the trio, Fortune Minerals Ltd., is also collaborating with senior miner Rio Tinto to develop technology that will improve recovery of critical minerals, cobalt, and bismuth, at its Nico cobalt, gold, bismuth, and copper mine project located in the Tlicho First Nation region west of Yellowknife.
Under a memorandum of understanding, testing of this technology for Fortune's planned refinery in Alberta will be done at Rio Tinto Kennecott's integrated copper mining and smelting operations in Utah.
The partnership aims to maximize the value of critical mineral supply chain investments and increase Fortune's planned cobalt and bismuth refining operations to process co-product streams of the minerals recovered from the Kennecott smelter.
Startup costs for the mining and processing operations are estimated at C$750 million.
https://www.miningnewsnorth.com/story/2024/01/18/mining-explorers-2023/wildfires-upset-nwt-mineral-exploration/8334.html