Canada Critical Minerals Funding for Fortune MineralsThe Canada Critical Minerals Research, Development and Demonstration Program website has been updated to reflect FT Canada funding. What's not clear to me is if the CA$7.5 million awarded by the Natural Resources Canada Global Partnerships Initiative are funds to be sourced from the Canada Critical Minerals Infrastructure Fund or if its a separate program and additional funds will be provided from the Infrastructure Fund. In either case, additional significant funding* seems inevitable from the Infrastructure Fund and is likely pending current SGS testing and/or an updated Feasibility Study. * up to $50 million per project for nongovernmental applicants, and up to $100 million per project for provincial and territorial governments
https://www.canada.ca/en/campaign/critical-minerals-in-canada/federal-support-for-critical-mineral-projects-and-value-chains/critical-minerals-research-development-and-demonstration-program.html
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.html Cobalt Sulphate Process Pilot
Organization: Fortune Minerals Limited
Description: Pilot hydrometallurgical process to validate and optimize process conditions for the production of high-purity cobalt sulphate, bismuth ingots and blending of process streams; and the validation of gypsum by-product; as well as ensure the process residue is stable for safe disposal
Amount funded: $714,500
Status: Launched in November 2023; expected to be completed by March 2025
Critical Minerals: Cobalt, nickel
Location: Northwest Territories
*Building on this project, additional funding of up to $7.5 million from Canada’s Global Partnerships Initiative may be allocated to Fortune to help advance engineering for mine site and refinery infrastructure through the completion of its Front-End Engineering and Design study.