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Fortune Minerals Receives Tlicho and Federal Governments' Approval for the NICO Mine & Mill in the NT
Project advances to licensing and permitting phase Issued Capital: 121,276,976 L...
About this update from Fortune Minerals Limited
[{"type":"text","content":"\n\n\nProject advances to licensing and permitting phase\n\n\nIssued Capital: 121,276,976\n\n\nLONDON, ON, July 19, 2013 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (\"Fortune\" or the \"Company\") (www.fortuneminerals.com) is pleased to announce that it has received approval for the NICO\n gold-cobalt-bismuth-copper mine and mill in the Northwest Territories\n (\"NT\") from the Tlicho Government, as well as from the Honourable\n Bernard Valcourt as Federal Minister of Aboriginal Affairs and Northern\n Development Canada (\"AANDC\"), and on behalf of the Responsible\n Ministers (Environment Canada, Fisheries and Oceans Canada, Natural\n Resources Canada, Transport Canada and the Government of the Northwest\n Territories). This acceptance of the Mackenzie Valley Review Board's\n (\"MVRB\") Report of Environmental Assessment and Reasons for Decision\n (\"EA Report\"), dated January 25, 2013, allows Fortune to complete the\n water licensing and land use permits process and to secure the primary\n permits required for the mine development. The Company is conducting\n site preparations at NICO this summer in anticipation of commencing\n construction in 2014, subject to completion of the project financing\n and receipt of all applicable permits.\n\n\nDr. Richard Schryer, Fortune's Director of Regulatory and Environmental\n Affairs stated, \"Approval of the NICO mine and mill by the Minister and\n Tlicho Government allows us to enter the regulatory phase of project\n permitting using information gathered during the review of the\n environmental assessment. Our efforts over the last few months\n preparing for this final stage of the permitting process will\n facilitate receipt of the permits required to initiate construction in\n 2014.\"\n\n\nMr. Robin Goad, CEO of Fortune commented, \"This permitting milestone at\n NICO contributes to the momentum the Company is building for the\n development of our two key Canadian mining assets. We are a step closer\n to our goal of transitioning to a multi-asset producer.\"\n\n\nThe MVRB completed its EA Report in January of this year and recommended\n approval of the mine and mill (see Fortune News Release dated January\n 28, 2013). Acceptance of the Report by the Minister of AANDC and the\n Tlicho Government allows the NICO project to proceed to the regulatory\n approvals phase with ...