Photo by: Fortune Minerals
TORONTO (miningweekly.com) – The developer of the Nico gold/cobalt/bismuth/copper mine and concentrator in Canada’s Northwest Territories, Fortune Metals, on Wednesday reported that the Northwest Territories Environment and Natural Resources Minister Michael Miltenberger had given final approval for the Type A water licence required to construct and operate the mine.
The Wek'èezhìi Land and Water Board last month approved the permits based on the environmental assessment (EA) completed in July last year, paving the way for the London, Ontario-based firm to start building the project as soon as financing is in place and after making the initial closure bond payments to the Northwest Territories government.
Along with the land-use permit, this constituted the final step in the permitting process.
Fortune said it continued to work with professional services firm Deloitte Corporate Finance Canada to secure financing for the C$589-million project and negotiations were advancing with a strategic partner and its banks.