ASX- and NYSE-listed Nova Minerals Corporation has welcomed a commitment by the US government to invest $249-million on completing the final stages of the Port MacKenzie Rail Extension, which provides a key transportation link for critical minerals in Alaska. 

The funding will deliver a new 32-mile rail line connecting Port MacKenzie to The Alaska Railroad Corporation's main line.

For Nova, the Port MacKenzie Rail Extension will link directly to its antimony refinery site.

Nova Minerals’ direct rail siding at Port Mackenzie will enable shipments of antimony and other critical mineral ores and concentrate feedstock to seamlessly move from the Alaskan interior and the region directly to its planned antimony and critical minerals processing and refining hub at Port MacKenzie through the new rail extension, explains Nova CEO Christoper Gerteisen.

Gerteisen attended the announcement at Port MacKenzie on October 21 alongside US Department of Transportation Secretary Sean Duffy, who said the federal grant covers about 80% of the overall $311-million project - with State and local partners contributing the remaining $62-million.

This commitment is the latest in a series of infrastructure investments in the region, including $7.8-million to enhance the port’s capacity for barge haul-out and loading operations, $34-million investment to support the expansion of the port, multi-billion funding commitments by Asian offtake partners to advance the Alaska LNG project recently announced by the Trump administration, and progress accelerating with funding, permitting, and studies completed in support of near-term development of the West Susitna Access Road Project, which tie into Nova's Estelle gold and critical minerals project.

These infrastructure developments are creating the foundations needed to support future critical minerals and mining projects across Alaska, with upgrades to ports, roads and power meaning projects can get into production cheaper and faster, Gerteisen states.

"Alaska is America’s natural resource powerhouse, but the state needs strong infrastructure to get those resources from point A to point B safely, reliably and efficiently,” Duffy says.

“Thanks to President Donald Trump and the entire Alaska delegation, we’re building a massive new rail supply line that will power the energy and critical mineral projects of the future. This landmark investment will generate an economic boom for the region, unleash American energy dominance, and enhance our national security," he adds.

Gerteisen concludes that Port Mackenzie is a commodity port, the export-import gateway for Alaska minerals and resources to reach US and global markets.

"This is yet another step forward to deliver the infrastructure necessary for critical minerals projects in Alaska to get their product to market quickly and for equipment and supplies to build and operate projects in Alaska to enter and distribute across our state as efficiently as possible."