GNWT agrees to sell Mactung property to Fireweed Zinc Ltd.
The Government of the Northwest Territories (GNWT) has accepted a letter of offer from Fireweed Zinc Ltd. (Fireweed) to acquire its Mactung property.
The GNWT took ownership of Mactung in 2015 as part of the insolvency of North American Tungsten Corporation Limited in order to protect the economic value of the property’s tungsten deposit for future development.
The GNWT’s goal has always been to return the property to the private sector once its commodity value recovered.