Fortune Minerals Receives Its Northwest Territories Water Licence and Land Use Permit Renewals for the NICO Mine
· Financial Post
LONDON, Ontario -- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or “the Company”) ( www.fortuneminerals.com) is pleased to announce that the Class A Water License renewal for the NICO mine and concentrator was approved by the Honourable Jay McDonald, Minister of Environment and Climate Change for the Northwest Territories (“NWT”). The draft terms recommended by the Wek’èezhìı Land and Water Board (“WLWB”) were accepted by the Minister and signed on September 14th, 2026. In addition, the WLWB issued the Type A Land Use Permit. These are the primary permits following receipt of an environmental assessment in the NWT and set the terms and conditions for construction and operation of the NWT facilities. They also set the amount of security that will be required for the Company’s Closure and Reclamation Plan. The NICO Cobalt-Gold-Bismuth-Copper Project (“NICO Project”) is an advanced development stage critical minerals asset consisting of a planned open pit and underground mine and concentrator in the NWT and a dedicated hydrometallurgical facility in Alberta (“Alberta Refinery”) where concentrates from the mine, and other feed sources, will be processed to value-added products. The NICO Project will provide a reliable, North American supply of battery grade cobalt sulphate, bismuth ingots (12% of global reserves), and copper cement - with more than one million ounces of in-situ gold as a highly liquid and countercyclical co-product. Read More
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