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Energy & Critical Metals

Fortune Minerals Welcomes Canada’s C$3.8 Billion Critical Minerals Strategy to Support Domestic EV Supply Chains

The NICO Project is one of the few advanced cobalt developments in the world to meet the growing demand in lithium-ion batteries powering electric vehicles…

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This article was originally published by Financial Post

LONDON, Ontario — Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) ( www.fortuneminerals.com) is pleased to report on the C$3.8 billion of financial support for Critical Minerals announced in last week’s Government of Canada budget for 2022 (“2022 Budget”). The funds are being allocated to accelerate domestic production and processing of Critical Minerals, particularly cobalt, nickel and lithium used in the manufacture of lithium-ion rechargeable batteries for electric vehicles (“EV’s”), portable electronics, and stationary storage cells to make electricity use more eficient. Fortune’s 100%-owned NICO cobalt-gold-bismuth-copper project (“NICO Project”) is a vertically integrated Critical Minerals development comprised of a planned open pit and underground mine and mill in Canada’s Northwest Territories (“NWT”) and a planned hydrometallurgical refinery in Alberta. The NICO Project is one of the few advanced cobalt development assets in the world that can be developed in the timelines required to meet current cathode chemistries and will benefit from implementation of these programs. The Mineral Reserves for the NICO deposit also include 1.1 million ounces of gold, 12% of global bismuth reserves, and copper as a minor by-product. Read More

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Author: Business Wire

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Energy & Critical Metals

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Energy & Critical Metals

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