Business
Government of Canada Announces Funding to Support Domestic Critical Minerals Value Chains and Create Good Jobs in the Northwest Territories
Government of Canada Announces Funding to Support Domestic Critical Minerals Value Chains and Cre...
About this update from Fortune Minerals Limited
[{"type":"text","content":"\n \n \n \n Government of Canada Announces Funding to Support Domestic Critical Minerals Value Chains and Create Good Jobs in the Northwest Territories\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n YELLOWKNIFE, NT\n \n ,\n \n \n March 26, 2024\n \n \n /CNW/ -\n \n Canada\n \n is committed to supporting strong domestic value chains for critical minerals and the clean technologies and energy sources they enable. The Government of\n \n Canada\n \n is focused on increasing mineral and energy security, creating good jobs and supporting economic opportunities across critical mineral value chains, from upstream exploration and extraction to downstream processing, manufacturing and recycling.\n \n \n Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced a\n \n $714,500\n \n investment in Fortune Minerals Limited (Fortune Minerals) to enhance the production of cobalt sulphate and bismuth ingot products from the company's planned mine in the\n \n Northwest Territories\n \n and refinery in\n \n Alberta\n \n to increase the supply of critical battery metals that are essential to the development of a domestic electric vehicle value chain. This will be achieved through a pilot-scale hydrometallurgical program designed to optimize processing conditions while ensuring that residues from the process are stable for safe disposal.\n \n \n When completed, the project will also develop new expertise create job opportunities for skilled trades and professional occupations, including Indigenous communities, and introduce a new sustainable technology to other Canadian companies. This investment will help\n \n Canada\n \n participate directly in the growing market of battery-grade cobalt and other concentrates instead of shipping concentrates overseas for value-added processing.\n \n \n Funding for this project comes from the Critical Minerals Research, Development and Demonstration (CMRDD) program. The CMRDD aims to advance the commercial readiness of emerging mineral processing unit operations and ...