Government of the Northwest Territories and Fortune Minerals Sign Socio-Economic Agreement for NICO Project

January 29, 2019
News Releases

The Government of the Northwest Territories (GNWT) and Fortune Minerals signed a Socio-Economic Agreement (SEA) this morning at event that took place during AME Roundup in Vancouver. 

The SEA will see Northwest Territories residents benefit from the construction and operation of the proposed NICO mine. It provides targets for local employment, local business spending, education and training. It also lays out the GNWT's commitment to provide a healthy, trained workforce from which Fortune Minerals can draw to reach those employment targets. 

This agreement marks another milestone for the NICO project on the path to becoming Canada's first primary cobalt mine. It is also important for the Northwest Territories as it demonstrates that there is an extraordinary wealth of mineral resources and exciting opportunities for exploration projects across the territory.

 

Quotes

“The Government of the Northwest Territories continues to work hard to improve the investment climate and support the responsible development of the NWT’s natural resources. The NICO project is important for our territories future and I am happy to see this milestone reached with Fortune Minerals.”

  • Wally Schumann, Minister of Industry, Tourism and Investment

 

“Formalizing our contribution to the livelihoods and quality of life of residents of the communities we operate is a key objective of our Company. The NICO Project will contribute energy- and eco-metals to support the growing green economy and enable the Northwest Territories to further capitalize on its significant mineral resource endowment.”

  • Robin Goad, President and CEO, Fortune Minerals

 

Quick facts

  • Fortune Minerals’ NICO Project is a multi-resource proposed mine including the following commodities:
    • Cobalt
    • Bismuth
    • Gold
    • Copper

 

  • The project is located near Whati in the Tłı̨chǫ region.

 

Useful Links

 

Media contacts

Krystal Pidborochynski
Senior Cabinet Communications Advisor
Government of the Northwest Territories

Krystal_pidborochynski@gov.nt.ca

Phone: (867) 444-9684

 

Troy Nazarewicz

Investor Relations Manager

Fortune Minerals Ltd.

info@fortuneminerals.com

Tel.: (519) 858-8188