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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Limited is a mining company. It is engaged in the exploration and development of mineral properties in Canada. It is focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories and Alberta that produces a bulk concentrate for shipment to a refinery that it plans to construct in southern Canada. It also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 kilometers (km) north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator. It also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia. It also has a 100% interest in these 116 hectares of property south of Great Slave Lake with copper, silver, gold, lead and zinc showings. It has a 1% net smelter royalty covering 78 hectares of land positioned in a former silver mining district, located south of the Eldorado mining district at Great Bear Lake.


TSX:FT - Post by User

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Post by wesmileon Mar 14, 2011 6:44pm
292 Views
Post# 18283883

Will FT get compensation?

Will FT get compensation?
GOVERNMENT OF CANADA REACHES AGREEMENT WITH PRINCE RUPERT FIRST NATIONS ON PRINCE RUPERT CONTAINER TERMINAL
OTTAWA, March 14 /CNW/ - The Honourable Chuck Strahl, Minister of Transport, Infrastructure and Communities, and Don Krusel, chair of the Prince Rupert Port Authority, today announced that an agreement to expand the Port of Prince Rupert in British Columbia has been reached with the Lax Kw'alaams Indian Band and the Metlakatla Indian Band, known together as the Coast Tsimshian.
"Our government is pleased to announce this agreement, as it offers economic opportunities for these First Nations groups and supports the continued development of the Asia-Pacific Gateway and Corridor, including the expansion of port operations in Prince Rupert," said Minister Strahl. "It also contributes to the overall economic stability of the region. We remain committed to ensuring First Nations communities have access to economic development, as well as employment and training opportunities, which is key to creating sustainable communities."
This agreement is in addition to agreements reached with two First Nations groups located near Terrace, the Kitselas First Nation and the Kitsumkalum First Nation.
"Our government wishes to express its gratitude to Mr. Douglas Eyford, Canada's Chief Negotiator," said Minister Strahl. "Mr. Eyford's tireless efforts, along with his vision and professionalism, have brought a fair and balanced agreement for the First Nations and for all Canadians."
"We are extremely pleased to have reached these landmark agreements with our Coast Tsimshian partners," said Mr. Krusel. "The agreements align our interest toward the continued growth and expansion of the Port of Prince Rupert through creation of economic opportunities for their communities. Negotiators for the Coast Tsimshian, Canada and the Prince Rupert Port Authority overcame many obstacles to get this deal done. This new partnership between the Prince Rupert Port Authority and Coast Tshimshian sends a clear message to the market that Prince Rupert is open to investment."
The Government of Canada invested $30 million in the construction of Phase 1 of the new Port of Prince Rupert container terminal and is investing a further$28 million to establish a state-of-the-art container-screening program to help ensure secure and efficient border services for the terminal.
To learn more about Canada's Economic Action Plan, visitwww.actionplan.gc.ca.
Transport Canada is online atwww.tc.gc.ca. Subscribe to news releases and speeches atwww.tc.gc.ca/e-newsand keep up to date on the latest from Transport Canada.
This news release may be made available in alternative formats for persons living with visual disabilities.
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